A plan to issue $1 billion in bitcoin bonds in El Salvador has been postponed once more.

    It was reported in November 2021 that the Bitcoin bond, also known as the Volcano token, will be introduced to raise $1 billion from investors to create Bitcoin City, the nation's first tax-free metropolis based on Bitcoin.

     The release of these bonds was scheduled for the first quarter of 2022, but it was postponed for several reasons. Under the same unfavourable conditions, it has now been postponed once more. As a result, President Nayib Bukele, who made bitcoin legal tender, is facing a lot of objections by his haters,

 Although the market downturn is thought to be the primary cause of the delay, Paolo Ardoino, Chief Technology Officer of Bitfinex, a company that collaborates with the government of El Salvador on this issue, also highlighted internal security issues and the level of violence as causes. Bukele's detractors criticised Arduino as a parallel government because he is also an official of Tether.