Panama City Mayor Mayer Mizrachi teases a potential city-level Bitcoin reserve

The city eyes crypto tax payments, green mining via hydroelectric power, and financial education reforms inspired by El Salvador.

Panama City Mayor Mayer Mizrachi has teased the creation of a city-level Bitcoin reserve after meeting with El Salvador's leading crypto strategists.

The city is also considering allowing taxpayers to pay in Bitcoin, Ethereum, Tether (USDT), and USDC, as well as exploring possibilities for green crypto mining via hydroelectric energy.

A Cryptic Clue From Panama City Mayor

Mayor Mizrachi's post on X sparked excitement among the crypto community, especially given his upcoming speech at Bitcoin 2025 in Las Vegas, where he is expected to provide more details.

At present, only El Salvador has a national Bitcoin reserve, which now holds 6,179 BTC valued at nearly $640 million. However, if rumors of a city-level Bitcoin reserve in Panama City come to fruition, the city could become a significant Central American crypto hotspot.

"Bitcoin Reserve" teased Mayor

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to discuss possibilities for sustainable bitcoin mining using Panama's hydroelectric energy. A topic that came up during a meeting with officials from El Salvador, at the request of the mayor.

The meeting was also attended by renowned economist and host of the "Keiser Report" TV show, Max Keiser, who has been advising El Salvador's government since its groundbreaking bitcoin adoption in 2021.

"Great meeting today with the mayor of Panama City discussing possibilities for sustainable bitcoin mining using Panama's hydroelectric energy- a topic that came up during a meeting with officials from El Salvador, at the request of the mayor to discuss the country's bitcoin rollout and best practices for financial literacy programs in particular," said Stacy H88 on X.

"We're also making great progress on a measure that would allow taxpayers to pay the city in bitcoin, ethereum, tether or USDC, pending the setting up of systems for converting between cryptocurrency and fiat currency in order to facilitate the process and ensure efficient administration of public funds.

"The mayor appears bullish on the idea of setting up a bitcoin reserve at the city level, although setting up a federal-level bitcoin reserve would require legislation by the National Assembly, which the mayor has yet to formally initiate.

"But with the Bitcoin 2025 Conference just around the corner and Mayor Mizrachi set to speak, the crypto world will no doubt be watching closely to see what unfolds in Panama City in the months ahead."