El-Savador has made it choice which is the adoption of bitcoin and the present dip in bitcoin price isn't a long term implication of El-Savador's adoption but rather the equilibrium of bitcoin volatility, El-Savador's adoption and the current dip in price were like two parallel lines which path never cross.
el salv government did not buy bitcoin in 2021 hopping for a year 1 double.
they are planning on a 3-5y BUYING period to accumulate bitcoin..
EMPHASIS they are not looking to be selling it any time soon.
they dont care about their current hoards price right now. they infact should be happy to see the discounted price to accumulate more while its cheap.
the failure of the chivo adoption.. is a separate economic model to the government hoard investment plan