Seems like the timing of this surge could have big implications for Bukele's re-election; which will, itself, have big implications for other political unfoldings, e.g., in Argentina.
President Nayib Bukele will focus in the coming months on a reelection campaign, despite the fact that a consecutive term is expressly prohibited by the Constitution of El Salvador.
Constitutions are words on a piece of paper, they mean nothing if people don't follow them and they aren't enforced by the people. US politicians violate the constitution all the time and nothing is done about it.
Honestly constitutions are just smoke and mirrors used as a distraction.
Their P&L was never relevant. A couple thousand Bitcoins (according to the tracker) is a drop in the bucket, even for such as small country. And it was bought to provide liquidity per the Bitcoin Law, not as a speculative investment.