Panama City Mayor Mayer Mizrachi has hinted at establishing a city-level Bitcoin reserve in a cryptic put up following his meeting with two of El Salvador’s Bitcoin coverage leaders.
“Bitcoin Reserve,” Mizrachi wrote to X on Could 16 after meeting El Salvador-based Bitcoiners Max Keiser and Stacy Herbert.
Whereas Mizrachi didn’t share particulars about his discussions with Keiser and Herbert, the timing of the put up got here 11 days earlier than the Bitcoin 2025 conference in Las Vegas, the place Mizrachi is scheduled to talk.
The creation of a Bitcoin reserve in Panama City would observe a just lately authorised measure allowing using crypto for public payments, together with taxes, fines and municipal charges.
Bitcoin (BTC), Ether (ETH), Tether (USDT) and USDC (USDC) can be accepted as soon as the crypto-to-fiat fee rails are established, Mizrachi mentioned on the time.
To push for a Bitcoin reserve on the federal stage, Mizrachi would wish to collaborate with Panama’s Nationwide Meeting to craft laws.
There’s no proof to counsel that he has taken such measures.
Mizrachi’s put up follows the latest enactments of two Bitcoin reserve payments within the US states of Arizona and New Hampshire.
Ukraine can also be reportedly inching nearer towards adopting Bitcoin as a national reserve asset, native media reported earlier within the month.
Mizrachi, Keiser and Herbert mentioned Bitcoin mining, training
A post from Keiser suggests the trio spoke about how Panama and El Salvador can leverage renewable energy to bolster their Bitcoin mining operations.
“Bitcoin is reworking Central America. El Salvador’s geothermal & Panama’s hydro-electric will energy the Bitcoin revolution.”
Herbert additionally noted that Panama City will combine El Salvador’s “What’s Cash?” monetary literacy textbook into its on-line library system.
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Keiser and Herbert have performed a vital function in crafting El Salvador’s Bitcoin policy, which features a Bitcoin reserve consisting of 6,179 Bitcoin (BTC), price practically $640 million.
Keiser serves as President Nayib Bukele’s Bitcoin advisor, whereas Herbert runs the nation’s Bitcoin Workplace.
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