Maybe the other reason why it didn't succeed in El Salvador as many of us expected is because of the fact that El Salvador isn't that influential or powerful in the global stage, the country is a pipsqueak compared to US or Russia, maybe the fact that they don't have enough friends in high places in a lot of monetary-related international organizations and institutions is one of the many reasons why the experiment there failed, just one big political and influential figure that doesn't agree that bitcoin should have a place in a country's economy is probably enough to make sure that El Salvador fails in their experiment. I still believe that bitcoin still has a place in the economy and I don't think that just one experiment is enough to say that it's not going to be a viable tool to help boost the economy, let's see bitcoin get used in countries like USA, Canada, France, Germany, China or Russia, let's see if it's really bitcoin or it's the country that is the problem.

I wouldn't really call it a 100% failed experiment though since they did achieve some notable milestones which they will always be remembered for. Heck, I didn't even know this country until they adopted BTC as their national currency.

The result of the experiment was expected, but I applaud their guts to try this experiment considering their economic situation at the time.

Look, you cannot change anything overnight. You cannot change a generation in a few years. You have to spend time and money to help them become educated. I don't know what El Salvador did in their country to help people. People need to work instead of expecting Bitcoin to help them. Bitcoin does not change your financial position overnight. You should not rely on that.

Let's say I am a general worker and I do not care about my future. Just accepting Bitcoin as a payment method or receiving my weekly payment or salary won't change my wealth. I have to know how to use, and how can I change my life. You cannot force me to learn these things unless I myself try to learn something.

It's saying Nayib Bukel added 12 bitcoins for the country after the IMF loan was signed. The $1.4B loan was given after Nayib Bukel said he'd reduce bitcoin's status. They're now permitted to spend excess to buy new btc & it can't be used to pay taxes.
 

From a different point of view, maybe El Salvador did not fail with the Bitcoin concept that they applied even though not a few were standing in the contra ranks with them regarding the implementation of the Bitcoin system there.
Even though I don't have accurate data, I see that some countries began to follow the patterns made by El Salvador whether published or not.

When El Salvador claimed that they were successful with Legal Tender Bitcoin, I might agree with the return they got when Bitcoin reached the highest price some time ago. But they still haven't taken sale.

From here I conclude that with the Bitcoin they have, they can get many benefits in the future.

I don't know for sure, but from the data and a lot of news about El Slavador, they were able to pay off the country's debt. So in this matter I think El Salvador is in a good process of development. Remember, they started acquiring new Bitcoins in 2021. Then if calculated with their Bitcoin stock, El Salvador is considered to be the richest country. Even from the official poverty report, it decreased by 14 percentage points. I can't be sure, but many media outlets have raised the above problem.

Perhaps an IMF loan is another option from Bukele. That doesn't mean it's a failure for Bitcoin. There are indeed some agreements, regarding some programs to stop and the program is indeed ineffective. But Bukele also continues to increase the amount of Bitcoin. Just look at how Bukele continues to buy and not sell it. I think Bukele has good planning, he has been in office for quite a long time because economic growth cannot be changed in a short time.

Source: https://id.tradingeconomics.com/el-salvador/gdp-growth

They haven't sold yet and I don't think there is a time for them that we will see them sell. Because being a legal tender there gives them a better reason for them to apply just like what Trump has signed today, a Bitcoin strategic reserve. It may not fully push up their economy but that's just another one way to give them some healing on the other side of their economy. They should maximize the adoption in there by using it to attract more Bitcoin or crypto people come to them and make it as a tourist attraction and so as headquarters of exchanges and crypto companies.

It's the unfair world we're in. Strong countries want to control other country's assets. Any sleeping country which wakes up to bitcoin's potential finds freedom from economic chains. IMF isn't handing money for free it's loans are used by big countries to squeeze others.

When investments come at the expense of the tax payer , honestly it becomes a different ball game because the citizens demand transparency and accountability...now imagine a bitcoin invest that goes into the negative...the citizens would never buy this as they will think someone is plundering public resources which makes it difficult to have.

But on the bright side, El Salvador 🇸🇻  did make money off it's Bitcoin investment and jumped the bus when they succumbed to pressure Hope America  learns something from this..


Trumps way looks like it won't be using taxpayers money, they are using seized coins 

It's more like a solution to fix country's economy at macro scale, for sure poverty can't be magically erased, even in singapore poverty rate is still around 10% according to study in 2020.
with el salvador, it's not even a decade has passed since they adopt bitcoin, I think people's expectation toward el salvador is too much, but if you see their bitcoin holding, you'd figure out that at least they're profitable right now and money can be used to fix many aspect of their countries.