Panama City mayor hints at Bitcoin reserve following meeting with El Salvador advisors

Panama City Mayor Mayer Mizrachi stirred speculation about a possible Bitcoin reserve after a cryptic post on his official X account on May 16.

In the post, Mizrachi wrote:

“Bitcoin reserve.”

The cryptic post followed his meeting with Max Keiser and Stacy Herbert, two of the key architects behind El Salvador’s Bitcoin policy. Keiser currently serves as President Nayib Bukele’s Bitcoin advisor, while Herbert leads the country’s Bitcoin Office.

El Salvador has implemented a Bitcoin-forward financial strategy to accumulate the top crypto for its reserves. As of May 15, El Salvador holds 6,178 BTC, valued at around $644 million.

Although the content of their discussion remains private, the timing of the post suggests that the idea of a Bitcoin reserve may have been on the agenda.

Notably, Keiser had posted about how the two Central American countries could play a pivotal role in BTC’s future. He said:

“Bitcoin is transforming Central America. El Salvador’s geothermal Panama’s hydro-electric will power the Bitcoin revolution.”

Meanwhile, this development reflects the growing global interest in national Bitcoin reserves, following US President Donald Trump’s pro-crypto policies.

This has resulted in several countries, including Ukraine, exploring the idea of BTC reserves to hedge against an uncertain financial future.

Panama City’s Bitcoin embrace

Beyond hints of a reserve, Panama City has already made notable strides in crypto adoption.

In April, the city council approved using digital assets for public payments. Residents can now use Bitcoin, Ethereum, and stablecoins to settle taxes, fines, permits, and municipal fees.

This makes Panama City the first government institution in the country to accept crypto and one of the earliest adopters worldwide in public administration.

In addition, Herbert revealed that Panama City is preparing to integrate El Salvador’s “What is Money?” financial literacy textbook into its newly launched digital libraries.

The book aims to educate students and teachers on financial principles through the lens of Bitcoin, signaling a long-term plan to boost digital literacy among the youth.

Mayor Mizrachi is also scheduled to speak at the upcoming Bitcoin 2025 Conference, underlining his administration’s growing alignment with global crypto thought leaders.

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