Kazakhstan’s National Bank is preparing to invest as much as $300 million in cryptocurrency-linked assets, but it will adopt a slow and careful approach due to the sharp downturn in global markets.
Governor Timur Suleimenov said the bank may initially invest only $50–$100 million, depending on how the market stabilizes. His remarks follow a steep $500 billion decline in total crypto market value since early November, with Bitcoin falling 17% from $110,000 to $81,000, its lowest level in seven months.
Suleimenov confirmed that the investment will be sourced from the central bank’s gold and foreign exchange reserves rather than the sovereign wealth fund. The bank has already built exposure to high-tech stocks and digital-asset-linked instruments.
The move aligns with earlier government discussions about creating a national cryptocurrency fund worth up to $1 billion, focusing mainly on ETFs and crypto company shares. This cautious stance contrasts with President Tokayev’s broader push to build reserves of high-growth digital and technological assets.
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