El Salvador made history in 2021 by becoming the first country to make the world’s largest and oldest cryptocurrency, Bitcoin (BTC ($102,365.37)), legal tender — a move that triggered both skepticism and fascination from observers around the world. Some critics deemed President Nayib Bukele’s decision to gamble his country’s economic future on the orange coin as risky.

However, as BTC hits new all-time highs after new all-...