Kazakhstan's Central Bank plans to invest 300 million USD in coins? Regulators: No rush, let's observe first.

Question

[Chain News] The Central Bank of Kazakhstan plans to invest money from its forex reserves into encryption, with a maximum potential investment of 300 million USD.

At the press conference on November 28, the country's regulatory head Timur Suleimenov said a truth: “300 million is just a ceiling, the actual amount may be 50 million, or it could be 100 million, 250 million, depending on the situation. Right now, the entire crypto world is in decline, and everyone is recalculating - can this actually make money? The workload is not small.”

The official particularly emphasized that the money does not come from the national fund, but from the Central Bank's gold forex reserves. They separately created an investment portfolio within the reserves, specifically to buy high-tech stocks and digital financial assets. However, the regulatory authorities are not in a hurry at all.

“We won't act impulsively,” he added, “let's wait until a real opportunity arises. With the recent drop in digital assets and encryption currencies, we need to observe for a while, get a clear understanding of the situation before taking action. There's no rush for this timing.”

In simple terms: the money is ready, but it is temporarily inactive. We will discuss it again when the market stabilizes.

CryingOldWallet · Accepted Answer

I like this approach in Kazakhstan, no rush, let&#39;s observe first... This is the right way to play with coins.

MetaverseHomeless · Answer

Hearing this, the Central Bank has started to buy the dip, and Kazakhstan has been quite stable this time.

ColdWalletGuardian · Answer

Kazakhstan really dares to make such moves, let&#39;s wait and see if this wave of market is truly at the bottom or if it will continue to hurt.

NFTHoarder · Answer

Haha, this official is quite straightforward, cutting down the ceiling to 300 million, in plain terms, they are still feeling the market.

Wait a minute, the Central Bank has started to buy the dip? Then we retail investors need to hurry and enter a position, or else we&#39;ll be played for suckers again...

By the way, this "let&#39;s see first" attitude is truly stable, much better than those suckers who go all-in right away.

SandwichTrader · Answer

The officials in Kazakhstan are still rational this time, really unlike the impulsive spending style of some institutions.

MintMaster · Answer

Kazakhstan is really playing this well, waiting for the coin price to drop a bit more before buying the dip, that&#39;s the smart person&#39;s trick.