Everyone is looking at El Salvador to be “the home” of Bitcoin, but I believe Singapore is better to be the true hub of the Bitcoin industry, with serious players.
Singapore has made a lot of effort on the technological sector. It cannot be said of El Salvador.
Singapore has clean governance, and almost zero corruption. El Salvador’s government structure might be corrupt everywhere from the bottom to the top.
Singapore’s banking industry is what made the country develop into one of the richest countries in the world. It can further develop by embracing the Bitcoin industry.
As you've mentioned the difference between the two countries, we can already see why Singapore didn't initiate on making bitcoin a legal tender. Maybe it could be because the government has a very low corruption record that they do not need the aid of bitcoin on reviving their economy. As for El Salvador, you said there are a lot of corrupt politicians and maybe soon it will show up on how they are planning to use bitcoin as something that might mess up their country's economic state as well as bitcoin's repuation once their plan fails to succeed.