Panama City mayor teases Bitcoin reserve after meeting El Salvador’s Bitcoin leaders

Panama City Mayor Mayer Mizrachi has hinted at establishing a city-level Bitcoin reserve in a cryptic post following his meeting with two of El Salvador’s Bitcoin policy leaders.

“Bitcoin Reserve,” Mizrachiwroteto X on May 16 after meeting El Salvador-based Bitcoiners Max Keiser and Stacy Herbert.

While Mizrachi didn’t share details about his discussions with Keiser and Herbert, the timing of the post came 11 days before theBitcoin 2025 conferencein Las Vegas, where Mizrachi is scheduled to speak.

The creation of a Bitcoin reserve in Panama City would follow a recently approved measure permitting the use ofcrypto for public payments,including taxes, fines and municipal fees.

BitcoinBTC$103,452BitcoinChange (24h)0.27%Market Cap$2.05TVolume (24h)$26.18BView More, EtherETH$2,493EthereumChange (24h)4.38%Market Cap$300.28BVolume (24h)$17.19BView More, TetherUSDT$1.00Tether USDtChange (24h)0.01%Market Cap$139.35BVolume (24h)$56.06BView Moreand USDCUSDC$0.9996USDCChange (24h)0.00%Market Cap$52.17BVolume (24h)$6.14BView Morewill be accepted once the crypto-to-fiat payment rails are established, Mizrachi said at the time.

To push for aBitcoin reserveat the federal level, Mizrachi would need to collaborate with Panama’s National Assembly to craft legislation.

There’s no evidence to suggest that he has taken such measures.

Mizrachi’s post follows the recent enactments of two Bitcoin reserve bills in the US states of Arizona andNew Hampshire.

Ukraine is also reportedly inching closer toward adopting Bitcoin as anational reserve asset,local media reported earlier in the month.

Mizrachi, Keiser and Herbert discussed Bitcoin mining, education

Apostfrom Keiser suggests the trio spoke about how Panama and El Salvador can leveragerenewable energyto bolster their Bitcoin mining operations.

Herbert alsonotedthat Panama City will integrate El Salvador’s “What is Money?” financial literacy textbook into its online library system.

Related:Basel Medical shares down 15% on $1B Bitcoin buying plans

Keiser and Herbert have played a crucial role in craftingEl Salvador’s Bitcoin policy,which includes a Bitcoin reserveconsistingof 6,179 BitcoinBTC$103,452BitcoinChange (24h)0.27%Market Cap$2.05TVolume (24h)$26.18BView More, worth nearly $640 million.

Keiser serves asPresident Nayib Bukele’sBitcoin advisor, while Herbert runs the country’s Bitcoin Office.

Magazine:Danger signs for Bitcoin as retail abandons it to institutions: Sky Wee

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