Key Takeaways
- Panama City mayor hinted at a Bitcoin reserve after El Salvador meeting.
- The city already passed a policy to accept Bitcoin for public payments.
- Formal plans or legislative steps for a reserve have not been announced.
Panama City Mayor Mayer Mizrachi has signaled possible plans to create a Bitcoin reserve at the city level after meeting with El Salvador’s top Bitcoin advocates, Max Keiser and Stacy Herbert.
On May 16, Mizrachi posted the phrase “Bitcoin Reserve” to X, without offering further context.
Discussions with Bitcoin advocates
The post followed discussions between Mizrachi, Keiser, and Herbert, where they reportedly covered topics such as Bitcoin mining, renewable energy, and financial education.
Keiser later commented that Panama’s hydro-electric resources and El Salvador’s geothermal energy could help power Bitcoin’s growth across Central America.
Adoption of Bitcoin literacy
Herbert added that Panama City would adopt El Salvador’s Bitcoin financial literacy textbook What is Money? into its online library system.
Speculation ahead of Bitcoin conference
Although Mizrachi hasn’t released formal details or policy proposals, the timing of the post — just days ahead of his appearance at the Bitcoin 2025 conference in Las Vegas — has added to speculation.
Policy alignment and implementation
The concept aligns with a recently passed policy in Panama that allows for public payments, including taxes and municipal fees, in Bitcoin, Ether, and stablecoins.
Mizrachi has previously confirmed that the city will support such payments once crypto-to-fiat rails are implemented.
Legislative coordination required
Creating a city-level Bitcoin reserve would require coordination with Panama’s National Assembly.
No legislative efforts have been confirmed.
Broader context of Bitcoin reserve initiatives
Mizrachi’s comments come amid similar Bitcoin reserve initiatives in U.S. states like Arizona and New Hampshire, and increasing interest from countries like Ukraine.
