More than 60% of Indonesian youths invest in crypto: report

Data from Indonesian regulators reveals that more than 60% of crypto investors in Indonesia are Gen Z and Millennials aged 18 to 30.

According to a report by local Indonesian media Kompas.id, cryptocurrency is becoming increasingly popular among young Indonesians, especially those in the Generation Z and Millennial age groups.

Data from the Indonesian Commodity Futures Trading Regulatory Authority, known locally as Bappebti, reveals that 26.9% of crypto investors as of September 2024 are between the ages of 18 and 24. Meanwhile, 35.1% of investors are between the ages of 25-30.

President of Bappebti, Ir. Kasan said young people continue to show great interest in digital assets as an alternative to traditional financial assets such as stocks and gold.

However, he also emphasizes the importance of promoting financial literacy to younger generations, especially for those interested in understanding crypto. He believes that young people should be aware of the latest technological and financial developments.

“Financial literacy, including understanding crypto, is very important so that the younger generation can choose the right investment and avoid unnecessary financial risks,” Kasan said.

Meanwhile, another study titled “Indonesia Millennials and Generation Z Report 2024” shows that 38% of Generation Y and 41% of Generation Z in Indonesia have made it a habit to prepare a monthly financial budget.

32% of Generation Y and 26% of Generation Z are accustomed to allocating some of their income to savings and investments. This shows that financial management and investment is now a priority for the younger generation.

According to Bappebti’s latest data, the total value of crypto transactions as of September 2024 was equal to IDR 33.67 trillion or USD 2.13 billion.

Although this figure decreased slightly compared to August 2024, the value of crypto transactions from January to September of this year exceeded the same period in 2023.

Last year, the total value of crypto transactions was IDR 94.41 trillion (US$5.99 billion). Meanwhile, the total value of crypto transactions in Indonesia measured from January 2024 to September 2024 reached IDR 426.69 trillion (US$27.10 billion), an increase of 351.97% compared to last year. This shows that cryptocurrency as an investment asset is becoming even more popular among Indonesians.