Bitcoin City Dream Deferred: First Resident Leaves El Salvador After Lengthy Wait
Corbin Keegan, a U.S. national who proclaimed himself the first citizen of Bitcoin City, has temporarily left El Salvador after waiting over two years for the state to begin construction on the settlement.
President Nayib Bukele announced the infrastructure proposal for Bitcoin City in November 2021. Stating that it would be funded by volcano bonds, which have not yet been issued.
The promise of Bitcoin City’s construction left Keegan in limbo. He returned to the U.S. after waiting for news on the project for more than two years. Keegan had settled near the proposed site of Bitcoin City in La Union, living in an improvised home while awaiting progress. Despite initial announcements about the city’s development. Details remain scarce. Bukele mentioned securing geothermal energy for the city in January 2022, and in April 2023, the Public Works Ministry noted informal planning stages for Bitcoin City.
The issuance of Volcano Bonds, meant to finance Bitcoin City’s construction and approved last year. Was expected in Q1 2024 but has not yet occurred. Keegan’s landlord, Maria Antonio, stated that he plans to return in December to continue waiting for the city’s realization.
Clever Robot News Desk 10th June 2024
Related Article
