I can understand that El Salvador embraced Bitcoin but their way of investing was so haphazard as if they had never consulted anyone who is an expert in financial analysis or good at reading charts.
I remember that there was a chart of the purchase dates and it all seemed random without a solid economic plan as the price collapsed several times after the purchases.
Currently and historically, the price is ideal for investment, but we did not hear more investments, which reflects the economic situation in that country.
On June 30, El Salvador also bought another 80 bitcoins for $19k. This is considered the lowest price they can afford and this purchase is very small compared to the previous ones. Perhaps they have run out of funds to invest in bitcoin and the world economic situation is unstable they are hoarding money to deal with upcoming difficulties rather than buying bitcoin at this point.
The bear market is not expected to end anytime soon, so I hope they have a long-term holding plan and strategy in place.