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As the first country in the world, El Salvador has directly legalized Bitcoin in their country and accepted it as a legal tender. Since accepting Bitcoin as a legal tender, the number of tourists in this country has also increased relatively. In other words, it can be said that his Bitcoin-related decisions were correct.
Did you know that Bitcoin has not been legal tender in El Salvador for some time? Did you know that the country has a debt of over $30 billion, Bukele alone added $5+ billion during his term? In the long term, the country may benefit from Bitcoin, but at this point they are not even legally allowed to buy Bitcoin due to an agreement with the IMF.
El Salvador has become more developed through Bitcoin investment, but it is natural that they are facing debt in their current position. But we cannot forget their strategy of buying Bitcoin and waiting for a long time to hold it, because the IMF, this lending institution, has argued in the past that El Salvador will only be given loans if they are deprived of Bitcoin purchase. This lending institution is trying to close their Bitcoin legal tender,
but even if they are successful in the end, if the debt is paid, I think they will be able to grab Bitcoin again through Bitcoin legal tender like in the past and be able to buy it.
It will be a bit challenging for them to continue buying Bitcoin to keep pace with the global economy. A country cannot run entirely on its own money, the country's internal development mega projects require external loans. Now, if the IMF has given such a clear condition for investing in their country that if they want to get a loan, they cannot buy any new Bitcoin, then this can be a major obstacle for them to buy Bitcoin.
Right now, their country needs a large loan, so if they want to get a loan, they will have to temporarily suspend their Bitcoin purchase. However, the positive thing here is that the IMF has not given them any such condition that they have to sell their old Bitcoins.
According to various information, there is still over $ 600 million in Bitcoin in El Salvador's fund and I think it is enough as a reserve fund for a country.
However, even if the IMF gives such a condition, that condition is for a certain period of time, if the specified period passes, then the government of the country can again take such a decision related to Bitcoin.