El Salvador Aims to Build a Bitcoin City

El Salvador receives $1.6 billion investment from Yilport Holding to build a seaport and Bitcoin city.

El Salvador Aims To Build A Bitcoin City

President of El Salvador, Nayib Bukele, has announced a large-scale economic plan to support the construction of Bitcoin City.

The $1.6 billion private investment from Yilport Holding is expected to modernize the port of Acajutla and build a new port in La Union, where Bitcoin City is planned to be established.

The Largest Private Investment in El Salvador’s History

In a post on platform X on August 12, Bukele shared a detailed video about phase 3 of his government’s economic plan. According to the video, the plan focuses on logistics and starts with the largest private investment in El Salvador’s history.

Yilport Holding will invest over $1.615 billion in the Pacific Port Union, modernizing the Acajutla Seaport and eventually activating the La Union Seaport. This project had been neglected by previous administrations and has not been operational since it was built more than 20 years ago.

This agreement is seen as a result of President Bukele’s visit to Turkey in 2022. The deal will create a joint venture between Yilport and CEPA to manage both seaports for the next 50 years.

The investment will be carried out in phases, with the first phase beginning at the end of 2024.

Related: Donald Trump Advises the US Government Not to Sell Bitcoin

Bitcoin City in El Salvador

Bitcoin City in El Salvador
Bitcoin City in El Salvador

Bitcoin City is a planned smart city project in La Union, El Salvador. The city is intended to be a tax haven, utilizing geothermal energy to power Bitcoin mining.

Bukele promised that there will be no income tax, property tax, procurement tax, city tax, and no CO2 emissions. The only tax in Bitcoin City will be VAT, with half of the VAT revenue used to pay for the city’s bonds and the other half for maintaining public infrastructure.

El Salvador has been harnessing volcanic energy to mine Bitcoin. According to the country’s official website showing its Bitcoin reserves, El Salvador currently holds 5,839.76 Bitcoins worth over $348 million.

The country’s recently launched online Bitcoin Treasury provides real-time data on the nation’s Bitcoin reserves.

Love

0.0/5

Love

Latest

Giant Golden Cz Statue Appears Outside U.s. Capitol

News | Editor Choice | Memecoin

Giant Golden CZ Statue Appears Outside U.S. Capitol

A giant golden statue honoring Binance founder Changpeng Zhao suddenly appeared outside the U.S. Capitol just days after President Trump granted him a pardon, igniting fierce controversy over its anonymous funding and the launch of a new meme token called CZSTATUE.

Xrp Signaling Strong Bullish Momentum Ahead Of Fed Meeting

News | Altcoin | Editor Choice

XRP Signaling Strong Bullish Momentum Ahead of Fed Meeting

Crypto analyst Block Bull has drawn attention to XRP’s chart, noting the emergence of an inverse head-and-shoulders pattern—a classic indicator of a potential trend reversal from bearish to bullish.

Whales Withdraw Massive Link Holdings, Is A Major Price Surge Coming

News | Altcoin | Editor Choice

Whales Withdraw Massive LINK Holdings, Is a Major Price Surge Coming?

Chainlink (LINK) is entering a decisive phase as a series of on-chain and derivatives data point to growing buying pressure, setting the stage for a potential strong breakout in the days ahead.

Trump Family’s Bitcoin Firm Soars 10% After Major Btc Purchase

News | Bitcoin | Editor Choice

Trump Family’s Bitcoin Firm Soars 10% After Major BTC Purchase

American Bitcoin, a cryptocurrency mining firm founded by the Trump family, has sparked investor excitement after its stock jumped 10% following the purchase of over 1,400 Bitcoin, raising its total holdings to nearly $4.5 million.

X402 Token Surpasses $800 Million Market Cap After Launch On Bnb Chain

News | Altcoin | Editor Choice

x402 Token Surpasses $800 Million Market Cap After Launch on BNB Chain

Just one day after launching its new version on BNB Chain, the x402 ecosystem stunned the market as its market capitalization soared past $800 million, marking a remarkable milestone for the web-based payment protocol developed by Coinbase.

Screenshot 2025 10 20 091338