Kazakhstan’s Central Bank Eyes Up to $300 Million in Crypto for Reserves

Overview

• NBK Governor Timur Suleimenov said on November 28 that the bank may allocate as much as $300 million to cryptocurrency from its gold and foreign‑exchange reserves.
• The central bank will phase any allocation, with potential initial tranches of $50 million and possible steps at $100 million or $250 million before reaching the cap.
• Decision timing hinges on market stability after a broad selloff that included roughly a 17% monthly drop in Bitcoin and an estimated $500 billion slide in total crypto market value.
• Any digital-asset holdings would sit within the NBK’s reserve structure rather than the Kazakhstan National Fund, maintaining a separation from sovereign wealth assets.
• Kazakhstan’s reserve plan runs alongside state-backed efforts such as the Alem Crypto Fund, which launched with ministry support and Binance, and a reported $1 billion vehicle focused on ETFs and crypto-related equities.