Panama City Mayor Mayer Mizrachi recently met with El Salvador’s Bitcoin policy leaders, Max Keiser and Stacy Herbert, hinting at the establishment of a city-level Bitcoin reserve. In a cryptic post, Mizrachi mentioned a “Bitcoin Reserve” following the meeting. This development coincided with the upcoming Bitcoin 2025 conference in Las Vegas, where Mizrachi is set to speak. The potential creation of a Bitcoin reserve in Panama City aligns with a recent measure allowing the use of cryptocurrencies for public payments, including taxes and fines. Mizrachi mentioned that Bitcoin (BTC), Ether (ETH), Tether (USDT), and USDC (USDC) would be accepted once the crypto-to-fiat payment infrastructure is in place. To establish a Bitcoin reserve at the federal level in Panama, Mizrachi would need to collaborate with the National Assembly to draft appropriate legislation. The post by Mizrachi comes after Arizona and New Hampshire enacted Bitcoin reserve bills, while Ukraine is also moving towards adopting Bitcoin as a national reserve asset. Discussions between Mizrachi, Keiser, and Herbert included topics such as Bitcoin mining operations and leveraging renewable energy for mining. Herbert also mentioned integrating El Salvador’s financial literacy textbook into Panama City’s online library system. Keiser and Herbert have been instrumental in shaping El Salvador’s Bitcoin policy, which includes a significant Bitcoin reserve. Keiser serves as President Nayib Bukele’s Bitcoin advisor, while Herbert leads the country’s Bitcoin Office.
