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