Panama City Mayor Hints at Bitcoin Reserve Following El Salvador Meeting
2min read Panama City Mayor Mayer Mizrachi has ignited significant interest and speculation by hinting at the possibility of establishing a Bitcoin reserve for the city. This development follows a meeting with Max Keiser and Stacy Herbert, prominent figures behind El Salvador’s Bitcoin policy. The meeting, which took place on May 16, 2025, has raised questions about Panama City’s potential adoption of a similar cryptocurrency strategy.
During their discussions, Keiser and Herbert highlighted the potential for both Panama and El Salvador to utilize their renewable energy resources for Bitcoin mining operations. El Salvador, with its geothermal energy, and Panama, with its hydroelectric power, could leverage these resources to support Bitcoin mining in an environmentally sustainable manner. This approach aligns with El Salvador’s existing strategy, which has seen the country accumulate 6,179 BTC, valued at approximately $644 million, despite international pressure to limit such acquisitions.
The meeting also underscored a shared commitment to financial education. Panama City plans to incorporate El Salvador’s “What is Money?” financial literacy textbook into its online library system. This move reflects a mutual interest in educating the public about Bitcoin and its potential as a financial tool.
Mizrachi’s cryptic post on his official X account, which simply read “Bitcoin reserve,” has fueled speculation about the city’s intentions. While the mayor has not provided further details, the timing of the post suggests that Panama City is seriously considering adopting a Bitcoin reserve strategy similar to El Salvador’s. Such a move would position Panama as a leader in cryptocurrency adoption within the region.
Mizrachi is scheduled to speak at the Bitcoin 2025 conference in Las Vegas, where he may provide more insights into the city’s plans. This conference could serve as a platform for further discussions and announcements regarding Panama City’s cryptocurrency strategy. The city council recently decided to accept crypto payments for city services, including taxes, permit payments, fines, and municipal dues. People can use Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), and Tether (USDT). The city teams up with a bank that immediately changes the digital assets into US dollars to ensure compliance with the law. It is Mizrachi’s view that this approach follows financial regulations and is convenient for everyone involved.
Meanwhile, other cities around the world are also allowing crypto payments. Both Lugano in Switzerland and Mendoza in Argentina allow the use of digital currency for public charges and services. Consequently, Panama City is included in the growing trend of cities embracing crypto. A proposal for creating a reserve has not yet been presented by the mayor, yet many are discussing it. The next step for Mizrachi is to cooperate with Panama’s National Assembly to finalize the process. No proof has been given that this step will be taken.
Even so, this movement toward crypto payments is considered a significant leap in financial innovation. Many consider that putting a Bitcoin reserve in place could encourage more nations in the region to adopt digital assets. In short, Panama City’s actions suggest that they are interested in cryptocurrencies. Even if the city does not establish a reserve of Bitcoin, its use of cryptocurrency for modern public services is already yielding benefits. Panama could play a significant role in the rise of digital finance soon.
