It's good to say that El Salvador government is a Bitcoin enthusiasist with the way they went about investment in bitcoins,at first the idea was to save the country from tbe trap of IMF,they feel that if they invest in Bitcoin it could help in booting the economy of the country.at first it was seems to be a right idea because at a point they were getting good result so the government went further by making Bitcoin as a legal tender which means you can actually buy and pay good and services in Bitcoin.
Despite the fall in the price of Bitcoin which is almost getting to a year now the government of el salvador keep investing in Bitcoin at every stage of the bear market ,why ?because the belief is that by the time Bitcoin starts risen they are going to be many times in profit while stile retaining their investment.in as much as this is a very good idea but the bear market is taking time and to me I think it's actually affecting investment in bitcoin.nobody believe that the bear market will last this long which I am also sure that even the El Salvador government did foresee the longevity of the bear market too.the worst part of it is that no one knows when the bear market will come to an end because That's the only way one can prove that the El Salvador government are taking the right decision in their Bitcoin experiment.
But as it stands it is hard to judge or conclude if the El Salvador Bitcoin experiment is already a failure because anything can happen at any time,the market can decide to go bullish and before you know it things will start turning around ,even if the market still remains bearish for years it won't be wise to say that they have failed in their Bitcoin experiment except if Bitcoin is not longer in existence only then we can say that they have failed in their experiment,one thing I so much believe is that Bitcoin will continue to exist and for this reason they have every chance of gaining from their investment.the only problem is that we don't know when the bear market will be over,so if it does get over on time that will be very good for them.either ways let's see how the whole thing works out for the El Salvador Bitcoin experiment.