Panama City Considers Bitcoin Reserve After Meeting with El Salvador Officials

Could Panama City be the next cryptocurrency hub? Mayor Mayer Mizrachi recently met with El Salvador’s Bitcoin advisors, Max Keiser and Stacy Herbert, to explore potential for using Bitcoin as a reserve. This follows Panama’s recent move to incorporate cryptocurrencies like Bitcoin, Ether, Tether, and USDC in public payments. This signals a growing shift towards crypto-friendly infrastructure. Discussions during the meeting focused on leveraging Panama’s hydroelectric resources alongside El Salvador’s geothermal energy to power Bitcoin mining operations. Mizrachi’s interest in crypto adoption has been evident through recent measures allowing cryptocurrency use in public payments, and the city may need to secure legislative support from Panama’s National Assembly for any major changes.