Speculation is brewing regarding the potential establishment of a Bitcoin reserve in Panama City, prompted by a recent post from Mayor Mayer Mizrachi following discussions with prominent Bitcoin strategists from El Salvador. The mayor took to X on May 16 to share a mysterious message: “Bitcoin Reserve.” This tweet came shortly after a meeting with Max Keiser and Stacy Herbert, influential architects of El Salvador’s Bitcoin framework.
While no concrete plans have been announced, Mizrachi’s posting coincides with his upcoming participation in the Bitcoin 2025 conference in Las Vegas, raising anticipation about his intentions.
Panama City to Accept Bitcoin and Major Stablecoins
Previously, Mizrachi has declared that Panama City would embrace Bitcoin, Ether, Tether, and USDC once the necessary infrastructure for crypto-to-fiat transactions is established. However, for a formal reserve to be realized, Mizrachi would require legislative approval from Panama’s National Assembly, a pathway he has not yet pursued.
This initiative aligns with recent legislative actions in states like Arizona and New Hampshire, where officials have enacted bills to support Bitcoin reserves. Meanwhile, Ukraine is said to be considering Bitcoin as an element of its national reserve strategy.
During their meeting, Keiser emphasized discussions on Bitcoin mining and enhancing financial education. He noted that Panama’s abundant hydroelectric resources, alongside El Salvador’s geothermal energy, could facilitate robust Bitcoin infrastructure across Central America.
Herbert, who runs El Salvador’s Bitcoin Office, mentioned plans for Panama City to include the financial literacy textbook “What is Money?” in its online library, reinforcing its commitment to Bitcoin education as part of El Salvador’s national curriculum.
Both Keiser and Herbert play crucial roles in advising El Salvador’s President Nayib Bukele, with El Salvador currently holding over 6,100 BTC valued at nearly $640 million, serving as a potential model for Panama City as it delves into deeper Bitcoin integration.
Public Companies Ramp Up Bitcoin Exposure
Public companies are increasingly positioning themselves to capitalize on Bitcoin, with notable movement from Michael Saylor’s firm, Strategy. The Virginia-based company has disclosed plans to enhance its capital-raising efforts to $84 billion specifically for Bitcoin acquisitions. This strategy encompasses the sale of an additional $21 billion in common stock, following the full utilization of a previous program initiated in October.
Furthermore, Strategy is expanding its debt issuance target from $21 billion to $42 billion, retaining approximately $14.6 billion under the existing authorization for future activities. Similarly, Metaplanet made headlines by increasing its Bitcoin reserves, acquiring 1,241 BTC for about 18.4 billion yen (approximately $126 million). This latest acquisition elevates the company’s total Bitcoin holdings to 6,796 BTC, now valued at over $706 million.
This growing trend reflects a sustained institutional interest in Bitcoin. In the first quarter of this year, publicly listed companies collectively increased their Bitcoin holdings by 16.1%, demonstrating ongoing confidence in the cryptocurrency despite fluctuating market conditions.
The post Panama City Mayor Teases Bitcoin Reserve Plan After Meeting El Salvador Officials appeared first on Finance Newso.
