I just wish El Salvador was still holding Btcoin and didn't cave in. This would have been really good for them. Screw the IMF.
I think that it was done for marketing and it did its job very well but I think they were forced by IMF to drop Bitcoin.
they still hold bitcoin as government reserve, they just changed legal tender laws due to the imf to that of where retailer now only voluntarily could accept bitcoin as payment(via a cex account) rather than old law(2021) mandating that retailers had to have a chivo account and had to accept bitcoin for payment should a customer ask to pay with btc
it was a kinda easy thing to drop to appease the IMF as el salvador was conned into getting retailers to accept LN:Msats using a shoddy LN access hub (the backbone of the original chivo wallet) that bottlenecked many users funds, so they never truly accepted btc as mandated legal tender