El Salvador as a state economy tried to pivot to bitcoin.

They employed many tricks to attract investment, to start mining at a scale and bolstered BTC as an alternative currency to the country's population, even recognizing it as legal tender.

The tricks failed to materialize. Poverty remained rampant and El Salvador ended up being forced to suspend its Bitcoin program just to take a puny IMF loan. In the end, no crypto entity stepped in to help them when they needed 1.4 billion in USD. We know from Greece's example that IMF measures lead a state economy to disaster. But imagine how desperate a country had to be to accept an IMF intervention over a loan totalling only around 4% of its GDP.

Bitcoin didn't shield El Salvador from disruptions in the world economy, it didn't enrich its citizens, it didn't protect it from foreign corporations plundering its resources for cheap etc.

So what's the lesson here? Maybe Bitcoin doesn't work at the State level. Yet by Trump's sayings we're going to see the same in the US with a sovereign fund in crypto...