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Panama City Mayor Hints at Bitcoin Reserve After Meeting with El Salvador Advisors

Coin WorldFriday, May 16, 2025 12:51 pm ET

1min read

Panama City Mayor Mayer Mizrachi has sparked speculation about a potential Bitcoin reserve following a cryptic post on his official X account on May 16. The post, which simply read “Bitcoin reserve,” came after a meeting with Max Keiser and Stacy Herbert, two key figures behind El Salvador’s Bitcoin policy. Keiser currently serves as President Nayib Bukele’s Bitcoin advisor, while Herbert leads the country’s Bitcoin Office.

El Salvador has been actively accumulating Bitcoin for its reserves as part of its forward-thinking financial strategy. As of May 15, the country holds 6,178 BTC, valued at around $644 million. While the specifics of the discussion between Mizrachi, Keiser, and Herbert remain private, the timing of the post suggests that the idea of a Bitcoin reserve was likely discussed.

Keiser had previously highlighted the potential for Central American countries to play a pivotal role in the future of Bitcoin. He noted that El Salvador’s geothermal energy and Panama’s hydro-electric power could drive the Bitcoin revolution. This development aligns with the growing global interest in national Bitcoin reserves, particularly in light of pro-crypto policies.

Panama City has already taken significant steps towards crypto adoption. In April, the city council approved the use of digital assets for public payments, allowing residents to use Bitcoin, Ethereum, and stablecoins to settle taxes, fines, permits, and municipal fees. This makes Panama City the first government institution in the country to accept crypto and one of the earliest adopters worldwide in public administration.

Additionally, Panama City is preparing to integrate El Salvador’s “What is Money?” financial literacy textbook into its newly launched digital libraries. The book aims to educate students and teachers on financial principles through the lens of Bitcoin, indicating a long-term plan to enhance digital literacy among the youth. Mayor Mizrachi is also scheduled to speak at the upcoming Bitcoin 2025 Conference, further underscoring his administration’s alignment with global crypto thought leaders.

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