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.”
David Pokima
David is a finance news contributor with 4 years of experience in Blockchain Technology and Cryptocurrencies. He is interested in learning about emerging technologies and has an eye for breaking news. Staying updated with trends, David reported in several niches including regulation, partnerships, crypto assets, stocks, NFTs, etc. Away from the financial markets, David goes cycling and horse riding.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
