According to Deep Tide TechFlow, on May 17, Panama City Mayor Mayer Mizrachi announced plans to establish a city-level Bitcoin reserve after meeting with El Salvador's Bitcoin policy leaders. Mizrachi shared information about the 'Bitcoin Reserve' on social platform X on May 16 after meeting with El Salvador's Bitcoin advisor Max Keiser and the head of the Bitcoin office, Stacy Herbert.
The three also discussed how Panama and El Salvador can leverage renewable energy to promote Bitcoin mining development, while Panama City will incorporate El Salvador's financial literacy materials (What is currency?) into its online library system.
According to previous reports, Panama City has approved the use of cryptocurrency for public payments, including taxes, fines, and municipal fees.
