Bitcoin City's “first resident” has left El Salvador
American Corbin Keegan, the “first resident” of Bitcoin City in El Salvador, has returned to the United States after more than two years of waiting for the fulfillment of Nayib Bukele's promise to build the city of the future.
Media outlets in El Salvador are reporting that U.S. citizen Corbin Keegan traveled to El Salvador almost immediately after the publication of President Nayib Bukele's ambitious plans to build a new city for crypto-enthusiasts and the Bitcoin community.
Keegan told reporters that when he heard about the construction of the new city focused on digital technology, geothermal energy and ecology, he immediately wanted to be the first resident of the place. However, after more than two years of waiting, the construction of the dream city never started.
After Keegan read a report from the Ministry of Public Works in 2023, which stated that no project called Bitcoin City had been registered and the future settlement was in the informal planning stage, he decided to leave the country.
The Salvadoran government's plans to float so-called Volcano Bonds also failed. The Volcano Bonds, against which the government intended to obtain financing for the construction of Bitcoin City, were expected to be issued in the first quarter of 2024.
