Panama City to Adopt Bitcoin Reserve Like El Salvador Hints Mayor Mizrachi
The post Panama City to Adopt Bitcoin Reserve Like El Salvador Hints Mayor Mizrachi appeared first on Coinpedia Fintech News
Panama City could be on track to become Central Americas next Bitcoin hotspot after Mayor Mayer Mizrachi teased the creation of a city-level Bitcoin reserve. His cryptic hint came right after a high-profile meeting with El Salvadors leading crypto strategists.
A Cryptic Clue Sparks Excitement
Mayor Mizrachi posted the words Bitcoin Reserve on X shortly after meeting with El Salvadors Bitcoin policy leaders, Max Keiser and Stacy Herbert. The post, just 11 days ahead of his scheduled speech at Bitcoin 2025 in Las Vegas, has stirred speculation across the crypto community.
While no official details have been disclosed, the timing and tone hint at major developmentsperhaps even Panama City mirroring El Salvadors national Bitcoin reserve, which now holds 6,179 BTC worth nearly $640 million.
Crypto Payments Pave the Way
Panama City is already moving toward crypto adoption. A recently approved measure may soon allow Bitcoin, Ethereum, Tether (USDT), and USDC to be used for public paymentsincluding taxes and municipal feespending the implementation of crypto-to-fiat conversion systems.
Although establishing a city-level reserve is possible, a federal-level Bitcoin reserve would require legislation by the National Assembly, which Mizrachi has not yet formally initiated.
Sustainable Bitcoin Mining & Crypto Education Ahead
As per Max Keisers post, they discussed using Panamas hydroelectric energy for sustainable Bitcoin miningsimilar to how El Salvador leverages geothermal power. This could help Panama position itself as a green crypto-mining hub.
In a notable educational initiative, Herbert confirmed that Panama City will adopt El Salvadors What is Money? financial literacy textbook in its online librarymarking a deeper collaboration between the two nations.
Conclusion
Mayor Mizrachi appears bullish on the idea of a Bitcoin reserve, but more clarity is expected once he consults with national lawmakers. With El Salvador recently facing IMF tensions over its Bitcoin policy, Panama may tread cautiously.However, with the Bitcoin 2025 Conference just around the corner and Mizrachi set to speak, the crypto world is watching closely
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FAQs
Mayor Mizrachi hinted at a city-level Bitcoin reserve, inspired by El Salvador, but details await his Bitcoin 2025 speech.
Panama plans to use hydroelectric energy for green Bitcoin mining, following El Salvadors geothermal model.
A new measure may soon allow crypto payments for taxes using BTC, ETH, USDT, and USDC once conversion systems are in place.
Text source: Coinpedia – Fintech & Cryptocurreny News Media| Cr
