Is Panama City Next? Mayor Hints at Bitcoin Reserves After Diplomatic Talks
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Panama City’s mayor generated buzz this week by alluding to the establishment of a city-level Bitcoin fund. The discussion ignited from a single line posted on social media.
Mayor Mizrachi tweeted “Bitcoin Reserve” on May 16, shortly after a meeting with notable figures Max Keiser and Stacy Herbert, key advocates for El Salvador’s Bitcoin initiatives.
Meeting Ignites Curiosity
Local sources report that Mizrachi engaged with Keiser and Herbert to discuss the intricacies of Bitcoin policy. However, the mayor remained tight‑lipped about specifics.
The timing was certainly intriguing, as he shared this information just before attending the Bitcoin 2025 conference in Las Vegas, hinting at potential future developments.
Bitcoin Reserve 🚀
— Mayer Mizrachi (@Mayer) May 16, 2025
Legal Challenges Ahead
Reports indicate that establishing a formal Bitcoin reserve would require a vote from Panama’s National Assembly. Lawmakers would need to draft and pass a bill, a process that often takes time.
Committees would have to assess the proposal, including debates, amendments, and budget evaluations. Only after this could the city potentially manage any Bitcoin assets.
Panama City plans to introduce El Salvador’s “What is Money” financial literacy textbooks into their new digital libraries.
A regional Central American Bitcoin bloc is gaining momentum!
🇸🇻🤝🇵🇦 pic.twitter.com/7Ra2RvDdsG
— Stacy Herbert 🇸🇻🚀 (@stacyherbert) May 15, 2025
Energy Discussions Underway
Energy topics were also addressed during discussions. Keiser highlighted Panama’s hydroelectric capabilities and El Salvador’s geothermal resources, suggesting that renewable energy could sustainably power Bitcoin mining operations.
This presents a compelling approach: harnessing affordable, clean energy for the technology supporting the Bitcoin network. Nevertheless, necessary permits and grid enhancements would need to be approved.
BTC is currently trading at $103,583. Chart: TradingView
Crypto Payments on the Horizon
Mizrachi has already announced that Panama City will enable Bitcoin, Ether, Tether, and USDC payments when the system is up and running. This necessitates the development of crypto-to-fiat infrastructure where banks or fintech partners would facilitate exchanges.
Additionally, secure wallets would be essential for storing any cryptocurrencies the city acquires. Although no specific launch date has been established, the intent is clear.
Source: Strategy
Companies Increasing Bitcoin Holdings
It’s not only governments looking towards Bitcoin; public companies are diving in as well. Michael Saylor’s Strategy Corp. recently announced plans to raise $84 billion to acquire more Bitcoin, which includes an additional $21 billion in stock sales.
The company also expanded its debt ceiling from $21 billion to $42 billion, with $14.6 billion remaining open for future use. Meanwhile, Metaplanet acquired 1,240 BTC—approximately 18.50 billion yen, or around $127 million—bringing its total to 6,797 BTC, valued at over $706 million.
Recent reports indicate publicly traded companies have increased their Bitcoin holdings by 15% in Q1, underscoring a collective view of Bitcoin as an essential asset rather than a speculative one.
Featured image from Unsplash, chart from TradingView
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