Panama City Mayor Mayer Mizrachi stirred speculation about a possible Bitcoin reserve

Panama City Mayor Mayer Mizrachi stirred speculation about a possible Bitcoin reserve after a cryptic post on his official X account

Mayor Mayer Mizrachi of Panama City has stirred speculation about a possible Bitcoin reserve.

The mayor, known for his pro-crypto stance, posted an image on his X account on May 16.

The post, tagged "mayor.mc@icloud.com" and "Bitcoin Panama," appeared to show a sunny scene with palm trees.

It was captioned simply: "Bitcoin reserve."

The post comes shortly after Mizrachi met with Max Keiser and Stacy Herbert, two key figures in El Salvador's Bitcoin adoption journey.

Keiser currently serves as President Nayib Bukele's Bitcoin advisor, while Herbert leads El Salvador's Bitcoin Office.

El Salvador has been steadily accumulating BTC for its reserves, part of a broader financial strategy.

As of May 15, El Salvador holds 6,178 BTC, valued at around $644 million.

The content of their discussion at the meeting remains private.

However, the timing of the post suggests that the idea of a Bitcoin reserve may have been on the agenda.

Notably, Keiser had also posted about the two Central American countries playing a pivotal role in BTC's future.

"Bitcoin is transforming Central America. El Salvador's geothermal & Panama's hydro-electric will power the Bitcoin revolution."

This development follows growing global interest in national Bitcoin reserves, sparked by U.S. President Donald Trump's pro-crypto policies.

Several countries, including Ukraine, are exploring BTC reserves to hedge against an uncertain financial future.

Panama City's Bitcoin integration

Beyond a possible reserve, Panama City has been actively integrating crypto.

In April, the city council approved using digital assets for public payments.

Residents can now use Bitcoin, Ethereum, and stablecoins to settle taxes, fines, permits, and municipal fees.

This makes Panama City the first government institution in the country to accept crypto and one of the earliest adopters worldwide in public administration.

Additionally, Herbert revealed that Panama City is preparing to integrate El Salvador's "What is Money?" financial literacy textbook into its newly launched digital libraries.

The book aims to educate students and teachers on financial principles through the lens of Bitcoin, signaling a long-term plan to boost digital literacy among the youth.

Mayor Mizrachi is also set to speak at the upcoming Bitcoin 2025 Conference, further highlighting his administration's alignment with global crypto thought leaders.Mentioned in this article