Panama City mayor teases Bitcoin reserve after meeting El Salvador's Bitcoin leaders

Panama City Mayor Mayer Mizrachi has hinted at the possibility of establishing a Bitcoin reserve for the city after a recent meeting with El Salvador’s top Bitcoin strategists, Max Keiser and Stacy Herbert, who are key figures behind El Salvador’s Bitcoin policies.

Following the meeting, Mizrachi posted a cryptic message on his official X account simply saying “Bitcoin Reserve,” sparking widespread whispering about this potential initiative.

The discussions reportedly covered topics including the creation of a Bitcoin reserve, Bitcoin mining, and financial education. Notably, both Panama and El Salvador plan to leverage their renewable energy resources-Panama’s hydroelectric power and El Salvador’s geothermal energy-to support sustainable Bitcoin mining operations.

Additionally, Panama City intends to incorporate El Salvador’s financial literacy textbook into its digital library system, reflecting a shared commitment to Bitcoin education.

Panama City has already taken steps toward crypto adoption, with plans to accept Bitcoin, Ethereum, and stablecoins like Tether (USDT) and USDC for public payments such as taxes and municipal fees, pending the establishment of crypto-to-fiat payment infrastructure.

However, any formal move to create a Bitcoin reserve would require legislative approval from Panama’s National Assembly, and as of now, no such legislation has been introduced.

Mayor Mizrachi is expected to discuss these developments further at the upcoming Bitcoin 2025 conference in Las Vegas, where more details may emerge.

Panama City is exploring the idea of a Bitcoin reserve inspired by El Salvador’s national Bitcoin strategy, aiming to position itself as a regional crypto hub with sustainable mining and enhanced financial education initiatives, though formal steps are still pending legislative action.

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