The mayor of Panama City began his conversation this week when he hinted at the construction of a city-level Bitcoin fund. It all started with a single line of social media.
Mayer Mizrachi wrote “Bitcoin Reserve” on X on May 16th. He met Max Skiser and Stacey Herbert, two big names behind the Bitcoin move in El Salvador.
We meet curious stories
According to local sources, Mizrach sat down with Keeser and Herbert to look into the nuts and bolts of Bitcoin’s policy. The mayor was rifted closely over details.
However, the timing was remarkable. He shared the post just before heading to the Bitcoin 2025 conference in Las Vegas. It seemed like heads up that something could come.
Bitcoin Reserve 🚀
– Mayer Mizrachi (@mayer) May 16, 2025
Legal hurdles first
Based on the report, a vote in Panama’s Parliament is required to create a formal Bitcoin Reserve. Lawmakers must first write and approve the bill. The process can be dragged.
The committee must study ideas. There are discussions, revisions and budget checks. Only then could the city hold a stash of Bitcoin in its books.
Panama City is introducing El Salvador’s “What Is Money” Financial Literacy School Book to its new digital library.
The local Central American Bitcoin block is appearing!
🇸🇻🤝🇵🇦 pic.twitter.com/7ra2rvddsg
– Stacy Herbert🇸🇻🚀 (@stacyherbert) May 15, 2025
Discussed Energy Plans
Energy was also on the table. Kaiser pointed out the potential for hydroelectric power in Panama and geothermal plants in El Salvador. He suggested that Green Energy could power the Bitcoin mining rig.
That’s a neat idea. Run computers that use cheap and clean power to snag the Bitcoin network. However, you will need permissions and grid upgrades. Businesses and regulators must sign off.
Cryptocurrency payments on the horizon
Mizrachi already said that once the payment system is ready, Panama City will accept Bitcoin, Ether, Tether and USDC. That means building a rail from encryption to Fiat. The bank or fintech partner must process the exchange.
A secure wallet is required to store the coins the city will incorporate. No release date has been set. But the plan is on the agenda.
Source: Strategy
Companies hold all holdings
It’s not just the government that’s focusing on Bitcoin. Public companies are also accumulating. Michael Saylor’s Strategy Corp. said it would raise $84 billion to buy more Bitcoin. This includes selling an additional $21 billion in shares.
They also raise the debt limit from $21 billion to $42 billion, and are still open to $14.6 billion. On the other side of the globe, Metaplanet added 1,240 BTC. This brings the total to 6,797 BTC, which is now worth more than $706 million.
Based on the report, public companies increased Bitcoin Stash by 15% in the first quarter. That shows that many people consider Bitcoin to be core holding.
Unsplash featured images, TradingView charts
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