Mayor Mayer Mizrachi of Panama has suggested the possibility of establishing a Bitcoin reserve in the city following a meeting with Bitcoin policy leaders from El Salvador.
Possibility of a Bitcoin Reserve
Panama's Mayor Mayer Mizrachi hinted at the idea of creating a Bitcoin reserve in a post on social media platform X on May 16 after meeting with Max Keiser and Stacy Herbert from El Salvador. While Mizrachi did not disclose details about the discussions, the timing of the post comes 11 days ahead of the Bitcoin 2025 conference in Las Vegas, where he is scheduled to speak.
Discussions on Bitcoin and Renewable Energy
In a post from Max Keiser, it was suggested that the trio discussed how Panama and El Salvador could leverage renewable energy sources to bolster their Bitcoin mining operations. "Bitcoin is transforming Central America. El Salvador's geothermal and Panama's hydroelectric will power the Bitcoin revolution," he stated.
El Salvador's Role in Bitcoin Policy
Stacy Herbert also noted that Panama City will integrate El Salvador's financial literacy textbook "What is Money?" into its online library system. Keiser and Herbert have played a crucial role in crafting El Salvador's Bitcoin policy, which includes a reserve consisting of 6,179 Bitcoin, valued at nearly $640 million.
The potential creation of a Bitcoin reserve in Panama and active discussions with El Salvador highlight the strategic interest in cryptocurrencies in Central America.
