Key Points:
- Mayor Mayer Mizrachi of Panama City is looking into exploring Bitcoin payment options, motivated by El Salvador’s initiatives.
- He is contemplating establishing a strategic Bitcoin reserve and potentially accepting Bitcoin for Panama Canal transit fees.
- Recently, Panama City enacted a law allowing the use of Bitcoin and other cryptocurrencies for tax payments and various fees.
LAS VEGAS, Nevada — Mayer Mizrachi, the Mayor of Panama City, is drawing inspiration from El Salvador’s President Nayib Bukele regarding Bitcoin adoption.
During the Bitcoin 2025 conference in Las Vegas, Mizrachi discussed different strategies to incorporate Bitcoin payments into Panama’s capital, which houses the vital Panama Canal.
One innovative idea he proposed was establishing a Bitcoin reserve for the city and potentially allowing Bitcoin payments for Canal usage. “What if you have a perk for paying in Bitcoin?” Mizrachi pondered. “You’d get to go faster.”
Under his leadership, Panama City has passed legislation that permits residents to pay their taxes, parking fines, and other fees using Bitcoin, along with ether and certain stablecoins.
Mizrachi noted that he has been significantly influenced by Bukele’s announcement four years ago during the Bitcoin 2021 event, where the El Salvadoran leader declared the acceptance of Bitcoin as legal tender.
