Kazakhstan’s Central Bank Plans $300 Million Crypto Investment From Gold Reserves
The National Bank of Kazakhstan announced plans to invest up to $300 million in cryptocurrency assets, marking a significant step toward digital asset adoption by the Central Asian nation.
The investment will come from the country’s gold and foreign exchange reserves rather than its sovereign wealth fund.
National Bank Chairman Timur Suleimenov revealed the plan during a November 28 briefing, stating that a dedicated crypto reserve has already been established within the bank’s alternative investment portfolio. The announcement comes as global cryptocurrency markets face significant volatility, with Bitcoin dropping 17% to $81,000 in November.
Cautious Approach Amid Market Turbulence
The central bank emphasized a measured strategy…
