Is Panama City the next step? Mayor mocks Bitcoin reserves after diplomatic exchange
Panama City Mayor sparked a speech when he hinted at the establishment of a city-level Bitcoin fund this week. It all starts with a line on social media.
Mayer Mizrachi wrote “Bitcoin Reserve” on X on May 16. He just met with two big names behind El Salvador’s Bitcoin moves, Max Keizer and Stacy Herbert.
Meeting Spark Curious Talk
According to local sources, Mizrachi sat down with Keizer and Herbert to discuss the nuts and bolts of Bitcoin policy. The mayor clings to the details.
But the timing is worth noting. He shared the post before heading to the 2025 Bitcoin 2025 conference in Las Vegas. It seems that something may happen.
Bitcoin Reserve 🚀
– Mayer Mizrachi (@mayer) May 16, 2025
Legal obstacles ahead of schedule
According to the report, creating a formal Bitcoin reserve requires a vote in the Panama National Assembly. Legislators will have to write and approve the bill first. The process can be delayed.
The committee must study this idea. There will be debates, amendments and budget checks. Only in this way can the city hide any bitcoin in its books.
Panama City introduces to their new digital library the discipline of “what is money” in El Salvador.
A regional Bitcoin block is emerging in Central America!
🇸🇻🤝🇵🇦 pic.twitter.com/7ra2rvddsg
– Stacy Herbert🇸🇻🚀 (@stacyherbert) May 15, 2025
Energy Plans Discussed
The energy is on the table too. Keizer notes Panama’s hydroelectric potential and El Salvador’s geothermal plants. He suggested that green energy could power bitcoin mining rigs.
It’s a neat idea: use a cheap, clean power supply to run a computer that keeps the bitcoin network ticking. But license and grid upgrade are required. Companies and regulators will have to sign.
Encrypted payments are coming soon
Mizrachi has said that once it is ready, Panama City will accept Bitcoin, ether, tether and USDC. This means building a cryptocurrency track. Banks or fintech partners must handle the exchange.
And a secure wallet is needed to store any coins absorbed by the city. No launch date is set. But the plan is on the agenda.
Source: Strategy
The company holds a large number of shares
It’s not just the government that focuses on Bitcoin. Listed companies are also piled up. Michael Saylor’s strategy firm just said it would raise $84 billion to buy more bitcoins. This includes an additional $21 billion in stock sales.
They also raised their debt limit from $21 billion to $42 billion, and remained open for $14.6 billion. On the other side of the world, Metaplanet added 1240 BTC, or 115.5 billion yen, to about $127 million. That totaled 6,797 BTC and is now worth more than $706 million.
According to the report, publicly listed companies increased their Bitcoin hiding by 15% in the first quarter. It shows that many people see Bitcoin as a core holding, not just a side bet.
Featured images from Unsplash, charts for TradingView
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