Although Bitcoin is not yet legal tender in Indonesia, cryptocurrency miners have enjoyed enormous profits. Its presence remains a subject of debate in several developed countries, yet it's been accepted as a payment method by some retail merchants in others.
Certainly, throughout 2017, Bitcoin miners earned profits exceeding 600 percent. On January 2nd, the Bitcoin exchange rate was only US$1,012.35, but by November 9th, 2017, it had traded at US$7,120.48. This represents a 603.36 percent increase—a phenomenal return compared to investments in other commodities.
According to CoinMarketCap data, Bitcoin's market capitalization reached US$120.07 billion (Rp1,620.97 trillion), nearly equivalent to Indonesia's foreign exchange reserves. This value is the highest among other cryptocurrencies, surpassing Ethereum at US$30.67 billion and Bitcoin Cash at US$13.3 billion.