National Bank of Kazakhstan Plans Up to $300M Crypto Investment
Kazakhstan’s central bank is preparing to invest up to $300 million in crypto assets, though the final allocation could range between $50 million and $250 million, depending on market conditions.
According to RBC, National Bank of Kazakhstan (NBK) Chairman Timur Suleimenov announced the initiative would draw from the bank’s foreign exchange reserves rather than the country’s sovereign wealth fund, while cautioning that recent crypto market volatility requires a measured approach before committing capital.
The announcement comes as Bitcoin has declined 17% since early November, dropping from $110,000 to $81,000 and wiping $500 billion from total crypto market capitalization.
Suleimenov told reporters the bank would…
