Panama Mayor Mizrachi sparked speculation about possible Bitcoin spares after making a mysterious post on his official X account on May 16th.
In the post, Mizurachi wrote:
“Bitcoin reserve.”
The inexplicable post followed a meeting between Max Skiser and Stacey Herbert, two of the leading architects behind El Salvador’s Bitcoin policy. Keizer is currently Bitcoin Advisor to President Nayib Bukele, and Herbert leads the country’s Bitcoin office.
El Salvador implements Bitcoin Forward’s financial strategy to accumulate the highest-ranking cryptocurrency in its reserves. As of May 15th, El Salvador owns 6,178 BTC, worth approximately $644 million.
Their discussion remains private, but the timing of the post suggests that the idea of a Bitcoin Reserve may have been on the agenda.
In particular, Keizer posted on how two Central American countries could play a pivotal role in the future of BTC. He said:
“Bitcoin is transforming Central America. El Salvador’s geothermal and Panama’s hydropower drive the Bitcoin revolution.”
Meanwhile, the development reflects the growing global interest in national Bitcoin reserves in accordance with US President Donald Trump’s pro-crypto policy.
This led several countries, including Ukraine, to investigate ideas for BTC reserves that are against the uncertain financial future.
Panama City Bitcoin embrace
Beyond the sanctuary tips, Panama City has already made significant advances in the adoption of cryptography.
In April, the city council approved the use of digital assets for public payments. Residents can now use Bitcoin, Ethereum and Stubcoin to resolve taxes, fines, permits, and local government fees.
This makes Panama City the country’s first government agency to accept codes and one of the world’s earliest adopters.
Additionally, Herbert revealed that Panama City is preparing to merge El Salvador “What is money?” A newly released digital library with a financial literacy textbook.
The book aims to educate students and teachers on financial principles through the Bitcoin lens and signal a long-term plan to increase digital literacy among young people.
Mayor Mizrachi will also speak at the upcoming Bitcoin 2025 conference, highlighting his increasing consistency with the administration’s global cryptographic thought leader.