The Mayor of Panama City expressed interest in establishing a city-level Bitcoin reserve, which could transform the city into a new crypto hub.
A Cryptic Clue Sparks Excitement
Mayor Mizrachi posted the words 'Bitcoin Reserve' on the social media platform X shortly after meeting with leading crypto strategists from El Salvador, Max Keiser and Stacy Herbert. This post, made 11 days ahead of his scheduled speech at Bitcoin 2025 in Las Vegas, has stirred much discussion within the crypto community.
Crypto Payments Pave the Way
Panama City is already moving towards crypto adoption. A recently approved measure may soon allow Bitcoin, Ethereum, Tether (USDT), and USDC to be used for payment of taxes and municipal fees pending the implementation of crypto-to-fiat conversion systems.
Sustainable Bitcoin Mining & Crypto Education Ahead
According to a post by Max Keiser, they discussed utilizing Panama’s hydroelectric energy for sustainable Bitcoin mining, potentially helping Panama become a green crypto-mining hub. An important part of the initiative includes the confirmation that Panama City will adopt El Salvador’s financial literacy textbook 'What is Money?' into its online library.
Mayor Mizrachi appears optimistic about the idea of a Bitcoin reserve, but more clarity is expected following consultations with national lawmakers. As Panama approaches careful development of crypto initiatives, attention is growing with the upcoming Bitcoin 2025 conference.
