IMF mounting pressure on El Salvador to remove bitcoin as a legal tender does not mean the country was not ready or it was a wrong choice. The policies of the IMF has also been heavily criticized on several occasions, so I would not rate that suggestion very highly.

I am more interested in how much longer they would hodl their bought bitcoin if the price keeps dropping.

Bukele will probably not falter. With the image he created on the internet about El Salvador's stance on bitcoin, and seeing how deep they are in the crypto scene, they would not let the impression of the people change at all. I wonder how he will try to mitigate their losses on bitcoin currently, but sure enough he would not publicly state that they will sell at a loss because that's just bad money management (and bad for their image, too).

better link to source
https://www.imf.org/en/News/Articles/2022/01/25/pr2213-el-salvador-imf-executive-board-concludes-2021-article-iv-consultation

the IMF fears bitcoin as legal tender. because if all citizens shifted their income, wealth, savings to bitcoin. then el salvador wont have any dollar to play with to settle the IMF dollar debt. thus el salvador could claim BANKruptcy. to write off the dollar debt, while not affecting citizens pockets because they dont touch the dollar.

the IMF does not want to give out more dollar loans if the country is not tied to dollar to ensure they pay it back.

what the IMF is not realising is el salvador wants to get away from SDR (dollar) dependency.
what the IMF actually cares solely about is increasing a countries dependency on SDR

part of the announcement was triggered because el-salvador requested a SDR loan of 1.3billion and the IMF said they want to monitor el-salvadors dollar holdings and try to get el salvador to agree to a plan to reduce its debt (start paying dollar to the IMF)
in short IMF is afraid el-salvador will claim bankruptcy and cut all ties to the dollar, and never repay.

..
this IMF fear is based on many US cities* have gone into bankruptcy to write off US parts of national debt. which then means the US then cant pay the IMF SDR back because less cities are paying the us treasury back.
IMF fears if too many cities/micronations do this bankruptcy option. then the IMF becomes dead.

*The city of Detroit, Michigan,filed bankruptcy on July 18, 2013. at $18–20 billion,
Vallejo, California, $18 million debt in 2008
Jefferson County, Alabama's $4-billion filing in 2011.
Orange County, California, at least $1.5 billion debt 1994
San Bernardino, California, more than $1 billion in debt in 2012
Stockton, California, $700 million debt 2012

From my perspective, having recently arrived in San Salvador, I think the IMF request is not unreasonable.

Bitcoin is not being used as legal tender here - it is a front for an Alipay-style centralised app and facial recognition database - and the experiment has more potential to do harm than good for bitcoin, and perhaps El Salvador.

As I understand it, El Salvador's policy has three main elements:
1. The introduction of the Chivo app;
2. The acquisition of bitcoin in FX reserves;
3. The issuance of the EBB1 bond and subsequent, related issues.

Of these, the first is not honest and not working. I haven't seen the app used here even once. The second is not going well, and a strategy of 'buy the dip' sounds unprofessional, but I think it can be prudently executed and the amounts involved aren't that significant. The third is the most interesting idea, but the devil will be in the detail.

In order to gain and maintain confidence in the bond issuance and FX strategy, suspending the Chivo experiment may be a wise move. At the moment, it wouldn't be a major loss and the only real question it would leave is who has gained access to the facial recognition database.

yes, media has over sold "bitcoin legal tender" as if el salvador has dropped the dollar. this is not the case. its instead added a second legal tender. adding options.
though at the moment the adoption and regular utility of this second option isnt much. the IMF fears the potential.
the potential is if the citizens moved their wealth over to bitcoin, and just stopped using dollar. then the IMF is screwed and wont get its debts to el salvador settled. though not a immediate threat. not a short term risk. the IMF is concerned about long term risk of long term loans not being repaid should el salvadorians prefer to use bitcoin instead of dollar

..
similar things were happening with UK/euro. because the UK didnt want to use the euro as a native currency. the euro banks didnt want to offer the UK euro loans. because if the UK is not circulating euro's then the euro banks have little chance of the UK generating enough euro to repay. thus allowing the UK a back door to exit out of by just claiming euro bankruptcy. whilst keeping the pound active for citizens in the UK

.. well then brexit happened and we left by another door. as we refused to join the euro, when asked again to drop the pound.

UK had a brexit. to cut ties with eurobank
i wonder if/when el salv' will do a IMF***off

IMF supports bitcoin and crypto for its utility.. but some IMF departments are the loan officers who are tasked to make sure countries repay their SDR debts. and its this loan office department that fears el-salvador trying to get its sovereignty back.

a lesson the IMF should do. is not want to peg/tie itself just to SDR(dollar) and instead have several vessels of reserve.
EG 'amero' 'brics' 'crypto'
where it can happily take in 3 designated currencies

EG
a commercial bank that only handles dollar, limits itself to a customer base of 320million people. yet a commercial bank that handles multiple international currencies has a potential customer base of near 8 billion.
so far the IMF is small minded trying to exagerate the dollars power/influence by trying to get all countries around the world to be tied to the dollar. even when in the real world only 5% of the world uses dollar daily

yes
https://www.imf.org/en/About/Factsheets/Sheets/2016/08/02/21/28/IMF-Conditionality

in short when a country takes a loan. they are bound by the terms of the loan. such as a country has to then claw in enough tax income of the loaned currency to fill the government treasury of that currency. or has to offer the currency as social assistance to put it into circulation

thus making it dependant on that currency.

They are a huge organization that relies on dollars and so that's the reason why they're putting their trust in it instead of letting El Salvador do its thing alone, they want to intervene as it seems doesn't look for them. What's the matter if a country wants to adopt it as a legal tender and they actually have passed it and went through a process and made a bill for it. I think this is one of the reasons why many countries don't like to stand with these international orgs because they are trying to interfere with anything with almost everything.