Kazakhstan Targets $350M Crypto Investment to Boost Economy

Key Insights

• Kazakhstan’s central bank has set up a $350 million portfolio to invest in crypto.
• The bank wants to invest mostly in crypto companies’ stocks and will start by April or May.
• Bitcoin drops again below $70,000 even as crypto adoption continues.

Kazakhstan’s central bank is planning to invest in cryptocurrencies. They intend to do so after allocating $350 million to a portfolio of gold and foreign exchange reserves. The bank governor, Timur Suleimanov, disclosed the development at a recent briefing.

According to Reuters, the Eurasian country wants to gain exposure to crypto assets as part of its diversification efforts. The country’s reserves as at the start of February were $69.40 billion, comprising gold and foreign exchange.

Kazakhstan to Invest in Crypto Directly and Indirectly

Interestingly, the country is not planning to invest in cryptocurrencies by just buying Bitcoin and other digital assets. Suleimanov stated that the central bank is currently working on a list of assets to invest in. This includes crypto-related stocks and index funds.

Kazakhstan could soon invest in Bitcoin ETFs. It may also buy shares of companies like Coinbase, Circle, or Strategy.

He said:

Per the report, investment could begin as early as April or May. This underscores the country’s strong commitment to the strategy.

Aliya Moldabekova, the deputy chair, emphasized that Kazakhstan will prioritize companies engaged in digital assets. She noted the focus will be on firms that build and provide the underlying architecture.

The move is not totally surprising, given that Kazakhstan already has a massive crypto market through Bitcoin mining. The country is ranked third for global mining hashrate, behind only the US and China.

It has also made several pro-crypto moves over the past year. That includes launching the Alem Crypto Fund in partnership with Binance.

The Fund is part of the state-backed move to establish a $1 billion national crypto reserve, starting with the BNB token. The country also legalized nationwide crypto mining and trading in 2025.

Bitcoin Falls Below $70,000 Even as Nations Look to Crypto

Meanwhile, Kazakhstan’s move is part of a broader diversification effort by nations looking to cryptocurrencies as a reserve asset.

Already, the US under President Trump has almost 200,000 Bitcoin in a Strategic Bitcoin Reserve. At the same time, El Salvador now holds over 7,000 BTC and is buying one per day.

Even countries such as the United Arab Emirates have indirect exposure through state-controlled funds investing in Bitcoin ETFs.

The Czech Republic’s central bank actively purchased $1 million worth of Bitcoin and other cryptocurrencies in 2025. It made the move as part of a pilot project to explore digital assets.

Bitcoin Price Performance. Source: CoinMarketCap

However, the gradual adoption by nation-states has not done much for crypto assets in recent weeks. Despite the adoption, Bitcoin fell back to $68,000. The flagship asset rose to $73,000 on March 4 but lost 4% of its value as the US-Iran war intensified.

Unsurprisingly, other crypto assets are also down significantly. This once again raises the question of whether crypto can serve as a hedge asset like gold in times of global uncertainty.

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