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.
With the way they were investing it was clear that they were overconfident that the price would not fall further and hence they invested even when the price had a correction to $40k but the price went down drastically and since they are investing public fund in the volatile market, they should have done better analysis before investment when the market was correcting.
Currently and historically, the price is ideal for investment, but we did not hear more investments, which reflects the economic situation in that country.
El Salvador recently purchased 80
BTCitcoin at $19,000, but they are at a loss of $51 million.