4 hours ago
Panama City Mayor Mayer Mizrachi stirred speculation astir a imaginable Bitcoin reserve aft a cryptic station connected his authoritative X relationship connected May 16.
In the post, Mizrachi wrote:
“Bitcoin reserve.”
The cryptic station followed his gathering with Max Keiser and Stacy Herbert, 2 of the cardinal architects down El Salvador’s Bitcoin policy. Keiser presently serves arsenic President Nayib Bukele’s Bitcoin advisor, portion Herbert leads the country’s Bitcoin Office.
El Salvador has implemented a Bitcoin-forward fiscal strategy to accumulate the apical crypto for its reserves. As of May 15, El Salvador holds 6,178 BTC, valued astatine astir $644 million.
Although the contented of their treatment remains private, the timing of the station suggests that the thought of a Bitcoin reserve whitethorn person been connected the agenda.
Notably, Keiser had posted astir however the 2 Central American countries could play a pivotal relation successful BTC’s future. He said:
“Bitcoin is transforming Central America. El Salvador’s geothermal & Panama’s hydro-electric volition powerfulness the Bitcoin revolution.”
Meanwhile, this improvement reflects the increasing planetary involvement successful nationalist Bitcoin reserves, pursuing US President Donald Trump’s pro-crypto policies.
This has resulted successful several countries, including Ukraine, exploring the thought of BTC reserves to hedge against an uncertain fiscal future.
Panama City’s Bitcoin embrace
Beyond hints of a reserve, Panama City has already made notable strides successful crypto adoption.
In April, the metropolis assembly approved utilizing integer assets for nationalist payments. Residents tin present usage Bitcoin, Ethereum, and stablecoins to settee taxes, fines, permits, and municipal fees.
This makes Panama City the archetypal authorities instauration successful the state to judge crypto and 1 of the earliest adopters worldwide successful nationalist administration.
In addition, Herbert revealed that Panama City is preparing to integrate El Salvador’s “What is Money?” fiscal literacy textbook into its recently launched integer libraries.
The publication aims to amended students and teachers connected fiscal principles done the lens of Bitcoin, signaling a semipermanent program to boost integer literacy among the youth.
Mayor Mizrachi is besides scheduled to talk astatine the upcoming Bitcoin 2025 Conference, underlining his administration’s increasing alignment with planetary crypto thought leaders.
The station Panama City politician hints astatine Bitcoin reserve pursuing gathering with El Salvador advisors appeared archetypal connected CryptoSlate.
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