Mayer Mizrachi, the mayor of Panama City, has recently sparked discussions about the potential establishment of a municipal Bitcoin reserve. This speculation arose after Mizrachi’s meeting with Max Keiser and Stacy Herbert, prominent figures in El Salvador’s Bitcoin policy, on May 16, 2025. Following the meeting, Mizrachi posted the phrase “Bitcoin Reserve” on X (formerly Twitter), without providing further context.
The timing of Mizrachi’s post, just days before the Bitcoin 2025 conference in Las Vegas, where he is scheduled to speak, has fueled speculation about Panama City’s potential move towards adopting a Bitcoin reserve. Keiser, who advises El Salvador’s President Nayib Bukele on Bitcoin matters, and Herbert, head of El Salvador’s Bitcoin Office, have been instrumental in shaping El Salvador’s Bitcoin policies. Their discussions with Mizrachi reportedly covered topics such as Bitcoin mining, renewable energy, and financial education.
In line with these discussions, Panama City has already taken steps towards integrating cryptocurrencies into its financial system. The city council recently approved a measure allowing residents to pay taxes, fines, and municipal fees using Bitcoin, Ethereum, Tether (USDT), and USD Coin (USDC), once the necessary crypto-to-fiat payment infrastructure is established.
However, establishing a Bitcoin reserve at the municipal level would require legislative approval from Panama’s National Assembly. As of now, there is no evidence to suggest that such a proposal has been formally introduced or is under consideration.
The potential move by Panama City to adopt a Bitcoin reserve follows similar initiatives in other regions. For instance, U.S. states like Arizona and New Hampshire have enacted legislation supporting Bitcoin reserves. Additionally, Ukraine is reportedly moving towards adopting Bitcoin as a national reserve asset.
While the idea of a municipal Bitcoin reserve is still in the speculative stage, it highlights the growing interest in integrating cryptocurrencies into public financial strategies. If Panama City proceeds with such a plan, it could position itself as a leader in the adoption of digital currencies in Latin America.
