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Panama City Mayor Explores Bitcoin Reserve, Emphasizes Renewable Mining

Coin WorldSaturday, May 17, 2025 1:29 am ET

1min read

Panama City Mayor Mayer Mizrachi has hinted at the possibility of establishing a city-level Bitcoin reserve following discussions with key figures in El Salvador’s Bitcoin movement. This move signals a potential shift in municipal cryptocurrency policies and could pave the way for increased crypto integration within Panama City’s operations. Mizrachi’s engagement with Max Keiser and Stacy Herbert highlights a shared vision of utilizing renewable energy for Bitcoin mining, which could set a precedent for sustainable crypto practices in the region.

Mizrachi’s discussions with Keiser and Herbert emphasize the potential of harnessing Panama’s hydroelectric power for Bitcoin mining, aligning with global trends toward sustainable practices. Keiser noted that “Bitcoin is transforming Central America. El Salvador’s geothermal & Panama’s hydro-electric will power the Bitcoin revolution.” This focus on clean energy not only enhances the environmental profile of Bitcoin mining but also supports broader efforts toward sustainability.

For Mizrachi’s vision of a Bitcoin reserve to materialize, robust legislative frameworks will need to be established. Collaboration with Panama’s National Assembly will be crucial in drafting and passing legislation to integrate cryptocurrency into the city’s financial operations. While Mizrachi has not yet initiated such legislative efforts, the example set by other jurisdictions, such as Arizona and New Hampshire in the United States, could provide valuable frameworks for success.

In addition to discussions on mining, the initiative to incorporate El Salvador’s financial literacy program, “What is Money?”, into Panama City’s educational system demonstrates a commitment to fostering a well-informed public regarding cryptocurrencies. This strategic move aims to empower citizens with the knowledge needed to navigate a rapidly evolving financial landscape. The integration of educational resources will prepare Panama’s residents for wider crypto adoption and potential participation in future initiatives concerning digital asset investments.

The idea of creating a city-level Bitcoin reserve underscores a significant evolution in Panama’s approach to cryptocurrency. With Mayor Mizrachi signaling intentions for deeper involvement in the digital economy, combined with discussions on renewable energy and financial education, Panama City may well set a new standard for municipal cryptocurrency initiatives. The coming months will be crucial as stakeholders observe the developments that unfold within Panama’s legislative structure and the broader cryptocurrency ecosystem.

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