Panama City ready to become the next El Salvador? Mayor hints at city bitcoin reserve!

Jakarta, Pintu News – Panama City Mayor Mayer Mizrachi has caused a stir in the crypto community after posting a short but evocative statement: “Bitcoin Reserve.” He made this statement via the X platform on May 16, 2025, shortly after meeting two important figures from El Salvador’s Bitcoin (BTC) policy, Max Keiser and Stacy Herbert.

While not providing further details, the post sparked speculation that Panama City is preparing to keep a Bitcoin reserve at the city level. This speculation is all the more interesting as it comes just days before the Bitcoin 2025 conference in Las Vegas, where Mizrachi is scheduled to speak.

Steps to a Bitcoin Reserve: Inspiration from El Salvador

Mizrachi’s meeting with Max Keiser and Stacy Herbert was no coincidence, given that they are the main architects of El Salvador’s Bitcoin policy. The country currently has a reserve of 6,179 BTC worth around $640 million.

Max Keiser himself serves as President Nayib Bukele’s advisor on Bitcoin matters, while Stacy Herbert leads the El Salvador Bitcoin Office. Their experiences and strategies seem to be a new source of inspiration for Panama City in embarking on its crypto journey.

In his post, Keiser revealed that their discussion covered the potential for cooperation between Panama and El Salvador in terms of renewable energy-based Bitcoin mining. El Salvador utilizes geothermal energy, while Panama has an advantage in hydroelectric power.

This cooperation is expected to reduce dependence on fossil energy and have a positive economic impact on both countries. With this move, Panama is not only catching up with the crypto trend, but also striving to be part of the clean energy revolution in Central America.

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Financial and Regulatory Education is a Serious Concern

Not only focusing on technology and digital assets, Panama City is also showing its commitment to financial education. Stacy Herbert revealed that the financial literacy book “What is Money?” developed in El Salvador will be integrated into Panama City’s digital library system. This move signals that the city wants to build public awareness of the concept of money and its evolution in the form of cryptocurrencies.

However, in order to realize a Bitcoin reserve at the national level, Mizrachi will need to work with Panama’s National Assembly in drafting supportive legislation. To date, there is no concrete evidence that such a step has been taken.

However, Mizrachi seems to be looking to capitalize on the lead-up to the Bitcoin 2025 conference to strengthen his position in the crypto world. If successful, Panama could be the next Central American country to put cryptocurrency at the center of its economic policy.

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Panama Follows the Global Trend of Bitcoin Reserves

Mizrachi’s initiative comes amid a growing global trend of using Bitcoin as a reserve asset. Several states in the United States, such as Arizona and New Hampshire, have recently passed bills allowing the establishment of Bitcoin reserves.

Meanwhile, Ukraine is also reportedly considering a similar move as part of its national economic strategy. This fact shows that the adoption of Bitcoin as a strategic asset is starting to spread to various levels of government around the world.

Panama City’s move also reflects how cryptocurrencies are increasingly accepted among local governments as a modern solution for efficiency, transparency, and economic growth.

With local policy support, renewable energy potential, and access to technology, Panama has all the elements needed to become a new center of crypto innovation in the region. The world is now waiting to see if Mizrachi will actually realize this historic move or just tease the global crypto community.

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Reference:

• Cointelegraph. Panama City mayor teases Bitcoin reserve after meeting El Salvador’s Bitcoin leaders. Accessed May 20, 2025.
• Featured Image: Generated by AI