BCGAME - Free 5BTC Daily Bonus!In a recently announced significant development, El Salvador is receiving a large investment that will be allocated to its infrastructure in order to support the construction of its strategic “City Bitcoin".
According to a recent government statement, Yilport, a Turkish holding company, will make the US$1,62 billion investment in two of El Salvador's seaports.
The investment reached a milestone by being the largest in the private sector in the country's history, as highlighted by Nayib Bukele, the Bitcoin maximalist, president of El Salvador.
Ülkemizin tarihindeki en büyük özel yatırım 🇸🇻🇹🇷 pic.twitter.com/2cmn8T3g5p
- Nayib Bukele (@nayibbukele) August 12, 2024
“This will be a mixed ownership company between the company Yilport and El Salvador, which will operate both seaports for the next 50 years,” the government said in a statement shared by Bukele on August 12.
It is worth noting that the agreement aimed at development comes after a visit made by the president of El Salvador to Turkey in 2022. The ports involved in the project are Acajutla Seaport and La Union Seaport. The latter is an inactive seaport that is situated where they are planning to build Bitcoin City.
It is worth remembering that in El Salvador, a significant milestone was reached on June 1st, when President Nayib Bukele, known for his enthusiastic support for Bitcoin, took inauguration for a second presidential term. The inauguration ceremony, which took place at the National Palace of San Salvador, confirmed the continuity of an administration that has been a key figure on the global cryptocurrency scene.
El Salvador made history in September 2021 by becoming the first country to adopt Bitcoin as legal tender. Despite initial skepticism, with polls indicating disapproval from the majority of Salvadorans, Bukele has continued to promote policies that integrate cryptocurrencies into the national economic system.
At the time of publication, the price of Bitcoin was quoted at US$59.464,65, down 1.3% in the last 24 hours.
