Kazakhstan’s Central Bank Weighs $300 Million Crypto Bet Amid Market Turmoil
The National Bank of Kazakhstan (NBK) is considering deploying up to $300 million from its gold and foreign exchange reserves into crypto assets, though the final allocation may range between $50 million and $250 million. Chairman Timur Suleimenov emphasized the funds will not tap into the National Fund, but rather a dedicated portfolio already holding high-tech equities and digital asset-linked instruments.
Market volatility has forced caution. November's crypto crash erased $500 billion globally, with Bitcoin plunging 17% to $81,000—a seven-month low. The NBK has paused deployment despite establishing legal frameworks, awaiting clearer signals of sustainable opportunities. 'We’re reassessing profitability thresholds and long-term monetization pathways,' Suleimenov noted, underscoring the deliberate pace.
