Could Panama City be the next crypto capital? A cryptic social media post by Mayor Mayer Mizrachi has ignited speculation about the city’s potential move toward a Bitcoin reserve.
Following a meeting with Max Keiser and Stacy Herbert—two of the leading architects behind El Salvador’s Bitcoin strategy—Mizrachi simply posted “Bitcoin Reserve” on X (formerly Twitter) on May 16. The timing is no coincidence: Mizrachi is set to speak at the upcoming Bitcoin 2025 Conference in Las Vegas, just days away.
While the mayor didn’t spill the details of his conversation with Keiser and Herbert, the post aligns with Panama City’s recent pro-crypto momentum. The city recently approved a policy allowing residents to pay municipal taxes, fines, and fees in crypto, including Bitcoin (BTC), Ether (ETH), Tether (USDT), and USD Coin (USDC)—pending full fiat-crypto integration.
Establishing a Bitcoin reserve at the city level would be a bold next step, though pushing such a move nationally would require coordination with Panama’s National Assembly—something Mizrachi hasn’t formally pursued (yet).
Meanwhile, similar Bitcoin reserve initiatives are gaining traction in the U.S., with Arizona and New Hampshire both enacting legislation. Ukraine is also reportedly on the brink of recognizing Bitcoin as a national reserve asset.
Mining, Money & Education: Crypto Talks with El Salvador
During their meeting, Keiser revealed the trio explored how renewable energy sources—El Salvador’s geothermal power and Panama’s hydroelectric energy—can be leveraged for Bitcoin mining.
“Bitcoin is transforming Central America,” Keiser posted. “El Salvador’s geothermal & Panama’s hydro-electric will power the Bitcoin revolution.”
Stacy Herbert added that Panama City will adopt El Salvador’s “What is Money?” financial literacy textbook into its public library’s digital collection, boosting grassroots crypto education.
Both Keiser and Herbert are integral to El Salvador’s Bitcoin revolution. Keiser is the official Bitcoin advisor to President Nayib Bukele, while Herbert leads the country’s Bitcoin Office. Together, they’ve helped shape a national Bitcoin reserve now totaling 6,179 BTC, valued at nearly $640 million.
With Panama City’s mayor now stepping into the spotlight, it seems the next chapter of Bitcoin in Latin America could be written in the heart of Panama.