Overview
- Kazakhstan’s National Bank says a crypto-focused portfolio is in place and could draw up to $300 million from gold and foreign‑exchange reserves.
- Officials emphasize phased allocations, noting initial tranches could be as small as $50 million with a ceiling of $300 million depending on conditions.
- The central bank highlights a wait‑for‑stability stance after a sharp November market drawdown, including Bitcoin’s roughly 17% monthly decline.
- The crypto exposure sits within an alternative reserve portfolio that already includes high‑tech equities and instruments linked to digital assets, and remains separate from the National Fund.
- Parallel state efforts continue, including the Alem Crypto Fund’s BNB purchase and plans for a separate roughly $1 billion reserve focused on ETFs and crypto‑related equities funded by seized assets and mining proceeds.