Kazakhstan Central Bank Plans Cryptocurrency Investment Up to Approximately 47 Billion Yen

On November 28, Timur Suleimenov, President of the National Bank of Kazakhstan (NBK), announced that the bank is considering an investment of up to $300 million (approximately 46.8 billion yen) in cryptocurrencies, as reported by Russia's economic and business media, RBC. Suleimenov emphasized that the investment funds would not come from the national fund, but rather from a portion of the central bank's managed gold and foreign currency reserves. He explained that within these reserves, a portfolio targeting high-tech stocks and financial products related to digital assets has already been established. Regarding the timing of the investment, he noted that the cryptocurrency market has experienced significant declines, suggesting that the 'dust has completely settled...'