Panama City Mayor Mayer Mizrachi has sparked speculation about the city creating a Bitcoin reserve, following a cryptic social media post after meeting with two of El Salvador’s leading Bitcoin strategists.
“Bitcoin Reserve,” Mizrachi wrote on X on May 16, shortly after sitting down with Max Keiser and Stacy Herbert, key figures behind El Salvador’s Bitcoin policies.
Though no formal details were released, the timing of the post comes just ahead of Mizrachi’s scheduled appearance at the Bitcoin 2025 conference in Las Vegas.
Panama City to Accept Bitcoin and Major Stablecoins
Mizrachi has previously stated that Panama City would accept Bitcoin, Ether, Tether, and USDC once crypto-to-fiat payment infrastructure is in place.
However, a move to establish a formal reserve would require legislative backing from Panama’s National Assembly — a step he has not yet taken publicly.
His post follows similar developments in Arizona and New Hampshire, where state lawmakers passed bills supporting Bitcoin reserves.
Meanwhile, Ukraine is reportedly exploring Bitcoin as part of its national reserves strategy.
During their meeting, Keiser indicated that discussions included Bitcoin mining and financial education.
Let’s see how high it goes.
— The ₿itcoinLibertarian
(@TheBitcoin__) May 16, 2025
(@TheBitcoin__) He pointed out Panama’s hydroelectric resources and El Salvador’s geothermal energy as tools to drive Bitcoin infrastructure across Central America.
Herbert, who oversees El Salvador’s Bitcoin Office, revealed that Panama City plans to add the country’s “What is Money?” financial literacy textbook to its online library.
The textbook forms part of El Salvador’s national curriculum on Bitcoin.
Keiser currently serves as a senior advisor to El Salvador’s President Nayib Bukele, while Herbert manages policy implementation.
El Salvador holds over 6,100 Bitcoin, valued at nearly $640 million, as part of its official reserve, a model Panama City could be eyeing as it explores deeper Bitcoin integration.
Public Companies Ramp Up Bitcoin Exposure
Public companies continue to increase their exposure to Bitcoin, with Michael Saylor’s firm, Strategy, leading the charge.
The Virginia-based company recently announced it would double its capital-raising efforts to $84 billion in order to acquire more Bitcoin.
This includes plans to sell an additional $21 billion in common stock, following the full utilization of a prior program approved in October.
In addition to equity sales, Strategy has also expanded its debt issuance target from $21 billion to $42 billion, with $14.6 billion still available under the current authorization.
On Monday, Metaplanet also expanded its Bitcoin treasury, acquiring an additional 1,241 BTC for approximately 18.4 billion yen ($126 million).
The latest purchase brings the company’s total Bitcoin holdings to 6,796 BTC, currently valued at over $706 million.
This trend reflects a broader institutional interest in Bitcoin. During the first quarter of the year, publicly listed firms collectively grew their Bitcoin holdings by 16.1%, indicating continued confidence in the asset despite persistent market volatility.
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