Source: Cointelegraph
Original: (Panama City Mayor hints at establishing Bitcoin (BTC) reserves after meeting with El Salvador's policy leaders)
Panama City Mayor Mayer Mizrachi posted a mysterious message on the X platform on May 16 after meeting with two Bitcoin policy leaders from El Salvador, stating: "Bitcoin Reserve," suggesting the possible establishment of a city-level Bitcoin (BTC) reserve.
Mizrachi did not share specific details regarding discussions with El Salvador's Bitcoin advocates Max Keiser and Stacy Herbert in his post, but the timing of the post is just 11 days before the 2025 Bitcoin conference in Las Vegas, where Mizrachi plans to speak.
Establishing a Bitcoin reserve in Panama City will closely follow a recently passed measure allowing the use of cryptocurrency for public payments, including taxes, fines, and municipal fees.
Mizrachi stated at the time that once payment channels from cryptocurrency to fiat currency are established, Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USDC will all be accepted.
To push for a Bitcoin reserve at the federal level, Mizrachi needs to collaborate with the National Assembly of Panama to draft relevant legislation.
There is currently no evidence that he has taken such measures.
At the time of Mizrachi's post, Arizona and New Hampshire in the United States had recently passed two Bitcoin reserve bills.
Additionally, according to local media reports earlier this month, Ukraine is also reportedly moving closer to adopting Bitcoin as a national reserve asset.
According to a post by Keiser, the three discussed how Panama and El Salvador could leverage renewable energy to enhance Bitcoin mining operations. Keiser wrote:
"Bitcoin is changing Central America. El Salvador's geothermal energy and Panama's hydroelectric power will fuel the Bitcoin revolution."
Herbert also mentioned that Panama City will integrate El Salvador's financial literacy textbook (What is Money?) into its online library system.
Keiser and Herbert played a key role in shaping El Salvador's Bitcoin policy, which includes a Bitcoin reserve consisting of 6,179 Bitcoins (BTC) valued at nearly $640 million.
Keiser serves as Bitcoin advisor to President Nayib Bukele, while Herbert is responsible for managing the country's Bitcoin Office.
Related: Stablecoin bill passed in the Northern Mariana Islands, House overrides previous veto
