Kazakhstan’s central bank formed a $350 million portfolio from gold and foreign exchange reserves for crypto-related investments starting April, focusing on crypto infrastructure companies and index funds rather than direct Bitcoin (CRYPTO: BTC) allocations.
The $350M Allocation
Governor Timur Suleimenov announced the investment program at a briefing on interest rates Friday.
“We are currently developing a list of instruments in which we will invest. This includes not only cryptocurrency itself,” Suleimenov said.
The portfolio will include shares of high-tech companies related to cryptocurrencies and digital financial assets, index funds, and other instruments that exhibit similar dynamics to crypto assets.
Central Bank Deputy Chair Aliya Moldabekova emphasized officials are not planning large direct allocations to cryptocurrencies.
“We are currently selecting companies that …