Panama City Mayor Considers Bitcoin Reserve After El Salvador Meeting

Panama City Mayor Mayer Mizrachi has hinted at the possibility of creating a Bitcoin reserve for the city, following a meeting with key figures behind El Salvador’s Bitcoin policies. Mizrachi posted a cryptic message on social media, stating "Bitcoin Reserve," shortly after his meeting with Max Keiser and Stacy Herbert, who are instrumental in El Salvador’s Bitcoin strategies. This announcement comes just before Mizrachi’s scheduled appearance at the Bitcoin 2025 conference in Las Vegas.

Mizrachi has previously expressed his intention to accept Bitcoin, Ether, Tether, and USDC in Panama City once the necessary crypto-to-fiat payment infrastructure is established. However, establishing a formal Bitcoin reserve would require legislative approval from Panama’s National Assembly, a step that Mizrachi has not yet publicly taken. This move follows similar developments in Arizona and New Hampshire, where state lawmakers have passed bills supporting Bitcoin reserves.

During their meeting, Keiser highlighted Panama’s hydroelectric resources and El Salvador’s geothermal energy as potential drivers for Bitcoin infrastructure across Central America. Herbert, who oversees El Salvador’s Bitcoin Office, revealed that Panama City plans to incorporate El Salvador’s “What is Money?” financial literacy textbook into its online library. This textbook is part of El Salvador’s national curriculum on Bitcoin. Keiser serves as a senior advisor to El Salvador’s President Nayib Bukele, while Herbert manages policy implementation.

El Salvador currently holds over 6,100 Bitcoin, valued at nearly $640 million, as part of its official reserve. This model could serve as a reference for Panama City as it explores deeper Bitcoin integration. The discussions also included topics such as Bitcoin mining and financial education, indicating a broader interest in integrating Bitcoin into the city’s financial ecosystem.