28.08.2025
UAE accumulates 6,300 BTC worth $700M through state-backed mining
In early August, representatives of the Bitcoin Indonesia community visited the office of the Vice President. They presented the idea of creating a national Bitcoin reserve and proposed mining cryptocurrency within the country using cheap green energy – such as geothermal and hydroelectric power.The main idea is to use Bitcoin as an additional asset to protect the economy from inflation and strengthen national wealth. This move could also create new jobs and launch an entirely new sector.An ambitious number was mentioned: up to 300 trillion Indonesian rupiah (about 18.3 billion USD) could be invested in BTC. This would allow the purchase of approximately 200,000 bitcoins. The proposal drew interest but still requires further discussion.The presentation also included long-term forecasts, such as those by Michael Saylor, suggesting that by 2045, Bitcoin could reach a price of 13 to 49 million USD per coin. Notably, 2045 marks Indonesia’s 100th year of independence.Officials responded positively to the idea, particularly the proposal for widespread education of citizens and public servants on cryptocurrencies and blockchain. This would help ensure informed and safe adoption. There is also consideration of involving the state-owned sovereign fund Danantara to manage the BTC investments.However, regulatory concerns remain. Since 2017, cryptocurrency has been banned as a means of payment in Indonesia, and financial authorities are approaching the topic with caution. Transparency and security are key. Another important factor is taxation: in 2025, the country raised taxes on crypto transactions, particularly income and mining – especially on foreign platforms. Still, in popular tourist areas like Bali, Bitcoin continues to be accepted, especially in the real estate sector.