Kazakhstan is studying the possibility of investing its national funds in crypto assets, including gold and foreign exchange reserves.
Kazakhstan's Approach to Crypto Investments
Central Bank Governor Timur Suleimenov confirmed that the country is considering investing its funds in cryptocurrencies. In a press conference, he mentioned that Kazakhstan's current investments are under review, particularly those made in Norway, the US, and the Middle East.
Warnings and Prospects
Suleimenov also emphasized the high volatility of crypto assets and stated that no hasty decisions would be made. He added that plans to establish a separate reserve for crypto assets seized from illicit sources are ongoing.
Kazakhstan's Role in the Crypto World
Despite having a relatively small economy, Kazakhstan plays a significant role in the cryptocurrency sphere, controlling approximately 13% of the global Bitcoin mining hashrate.
Thus, Kazakhstan is ramping up efforts to explore the possibility of investing its national funds in crypto assets, while being mindful of the high risks and volatility associated with this sector.
