I think El Salvador is becoming like an example for the rest of the world that how can you manage your economy by creating crypto currency a legal tender, many people even including me had argued that it's impossible to have bitcoin as a legal tender as you will always be under a chance of loss due to fall of value, but El Salvador have handled everything very intelligently and are hedging their positions very nicely.
How exactly are they hedging their positions nicely? I imagine if were to enter a 2 year long bear market now, Nayib Bukele would be seriously screwed politically, as he'll have a lot of explaining to do to angry citizens as the government sits on a loss with their big investment while their economy is doing very poorly. Plus he seem to have bad relations with the US and IMF, so who would bail him out in the worst scenario?
Bitcoin is quite likely to go above $100,000 at some point in the future, but will Bukele still be a president when it will happen?