Investors opportunities in Indonesia are bringing billionaires like Tim Draper, to look towards Indonesia, despite its young tech-savvy citizens raised on smartphones and apps, Indonesia has the second-highest dependency on cash in the world after India, according to the World Bank.
Earlier in June, he said he wasn’t going to make any investments in China because it was difficult to get money out amid capital controls.
“Indonesia is a great place to be. There is going to be a lot going on here.” said Billionaire investor Tim Draper.
Draper gained fame for investments in startups that went on to become household names, such as Baidu Inc., Tesla Inc. and Skype. The managing partner of Draper Associates expects users to jump to cryptocurrency.
“They don’t have very good banking services. So they have an opportunity to use bitcoin and make that as their currency,” he said in a Bloomberg Television interview with Haidi Lun and Rishaad Salamat from Jakarta. “Suddenly, we’ve got this major opportunity that’s not going to be around for those countries that already have strong infrastructure.”
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