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Kazakhstan’s central bank is prepared to spend up to $300 million on the purchase of crypto assets, its governor announced to the press. The exact size of the investment, which will be funded through the country’s gold and forex reserves, will be determined based on market conditions. Kazakhstan ready to buy cryptocurrency with gold and fiat The National Bank of Kazakhstan (NBK) may acquire up to $300 million worth of crypto assets, the head of the monetary authority announced on Friday. Speaking at a briefing for local media, NBK Chairman Timur Suleimenov indicated the regulator wants to see the dust from the latest market crash settle, before betting on Bitcoin, RBC reported. “This doesn’t mean we’ve just put $300 million in,” the central bank’s top executive remarked at the press conference, quoted by the Kazakhstani news outlet Zakon.kz, and elaborated: “Maybe we’ll limit ourselves to $50 million, maybe $100 million, or $250 million. This is a very difficult work, given the fact that the entire crypto market has collapsed, and we’re rethinking the prospects for monetization, achieving profitability, and so on.” The total capitalization of the global crypto market has dropped by some $500 billion in November, noted the crypto page of the Russian business news website. Bitcoin (BTC), the cryptocurrency with the largest market cap, fell by 17%, from $110,000 to $81,000, hitting a seven-month low. It has since rebounded to a little over $90,000 at the time of writing. Suleimenov emphasized the money for the crypto investment will come from the NBK’s gold and foreign exchange reserves, not from the Kazakhstan’s National fund at this point. The latter comprises financial assets in the government’s account at the central bank and other tangible assets used to ensure the country’s social and economic stability. The governor also noted that the…

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Filed under: News - @ November 29, 2025 10:28 am