El Salvador has received a major $1.6 billion investment from Turkish company Yilport, aimed at upgrading port infrastructure and advancing the construction of Bitcoin City. This comes after the Bitcoin Bond issuance was delayed and finally approved by the Digital Asset Commission (CNAD) at the end of 2022. President Bugelei confirmed the details of the investment, emphasizing the upgrading of the ports of Acajutla and La Union, the latter of which has also been designated as a future Bitcoin City, aimed at attracting foreign investment and implementing zero income tax, capital gains tax, property tax, wage tax and municipal service tax. The investment is part of the agreement reached during Bugelei's visit to Turkey in 2022, and Yilport will jointly manage the two ports with the Salvadoran National Port Authority (CEPA) for 50 years. Despite initial setbacks, the new funds have breathed life into the Bitcoin City project and strengthened El Salvador's commitment to Bitcoin, with the country currently holding 5,840.76 Bitcoins, worth approximately $345 million.

Gai Lun: Bitcoin City, let's go!