The Bitcoin community in Indonesia has witnessed unprecedented growth in recent years, hosting approximately 40 meetups each month and engaging an estimated 55,000 participants. Indonesia, a culturally diverse nation comprising 17,000 islands and home to over 280 million people, ranks among the world’s largest economies. The local currency, the rupiah, has depreciated by 61% against the US dollar over the past three decades, prompting many Indonesians to seek alternative financial solutions, with digital assets like Bitcoin emerging as a hopeful option.
The Bitcoin Indonesia community has actively promoted education and adoption across the country. Monthly meetups take place in 40 cities, with popular wallets such as Fedi, Blank, and Wallet of Stuchi being widely used. To provide legal protection for Bitcoin usage, a unique system called the “Fidiment Federation” was established, comprising between 10,000 and 20,000 members. Additionally, thousands receive Bitcoin education through social media platforms, and the “My First Bitcoin” certification program has graduated over 500 students, aiding the cryptocurrency’s growth among younger generations.
Bitcoin’s popularity in Indonesia first emerged in 2014, notably on Bali Island as the “Bitcoin Island.” However, the government imposed a ban on cryptocurrencies in 2017, limiting general trading activities. Despite this, the community adopted new legal approaches by utilizing Bitcoin as rewards or redemption tokens rather than for direct purchases, thereby complying with local regulations.
The success of Bitcoin in Indonesia is attributed to free educational initiatives, unpaid meetups, and strong community leadership. This movement has not only provided financial education but also highlighted the history and challenges of the local currency, encouraging people to view Bitcoin as a means of financial freedom. Looking ahead, the community aims to certify more students and expand Bitcoin acceptance throughout the country.
Source: bitcoinmagazine
