El Salvador has announced a $1.6 billion investment in its Bitcoin City garnering new momentum across crypto spaces. Turkish company, Yilport Holdings will invest $1.6 billion in two ports at Acajutla and La Union, the home of the proposed Bitcoin City. Dubbed a Bitcoin city infrastructure investment by crypto enthusiasts, the port development will drive investment to the metropolis.

El Salvador Discloses $1.6 Billion Investment 

Turkish firm Yilport Holdings will invest over $1.6 billion in El Salvador for the improvement of two ports in locations that include the proposed Bitcoin City. According to the country’s announcement on X (formerly Twitter), it is the largest private investment rolled out in the country. 

President Nayib Bukele shared a video on X explaining the move to citizens. “The company Yilport Holding Inc. will allocate more than $1.615 billion to the Pacific Port Union. Here we will modernize the port of Acajutla and activate, finally, the port of La Unión.”

The post Just-In: El Salvador Announces $1.6B Investment in Bitcoin City appeared first on CoinGape.

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Filed under: News - @ August 12, 2024 1:53 pm