New Crypto Buyer Enters the Market: Kazakhstan Plans to Invest Up to $350 Million
Kazakhstan's central bank, under Governor Timur Suleimanov, plans to invest up to $350 million from its gold and foreign exchange reserves into the crypto asset sector, with investments set to begin between April and May. The move, which represents a cautious 0.5% of the country's total reserves, will include not only cryptocurrencies but also stocks of high-tech companies, index funds, and other crypto-related financial instruments. The National Investment Corporation (NIC) will also incorporate confiscated crypto assets from law enforcement operations into the national crypto fund. This decision follows eased regulations in January, which recognized digital financial assets as a new asset class and allowed licensed crypto exchanges. Kazakhstan currently holds 3,544 bitcoins, ranking eighth globally in government crypto holdings.
marsbit03/09 08:50