• Panama Mayor Teases Bitcoin Reserve, Sparks Speculation Across Crypto Community

• Mizrachi May Reveal Bitcoin Plans During Upcoming Las Vegas Crypto Conference

• Mizrachi Eyes National Assembly Support to Establish Panama Bitcoin Reserve

Panama City may be planning to set up a Bitcoin reserve. This idea came to light after Mayor Mayer Mizrachi posted a short but mysterious message on X (formerly Twitter) on May 16. In the post, he wrote only the words “Bitcoin Reserve.”

Mizrachi Teases Bitcoin Plans Ahead of Las Vegas Conference Appearance

The message came at a curious point in time. After Mizrachi discussed the issue with Max Keiser and Stacy Herbert, this proposal came forward. Although Mizrachi did not specify the details of their conversation, the post soon became popular online.

It is also notable that the conference in Las Vegas will soon take place. The event is happening in 11 days, and Mizrachi is one of the speakers. This could mean he will release more information at the conference.

Similarly, Stacy Herbert posted news about the state of education in Panama. It was stated that Panama City plans to follow El Salvador’s “What is Money?” and adopt a financial literacy textbook in the university’s digital library. This might help people understand cryptocurrencies better.

Although there is no formal Bitcoin reserve at this time, Panama City supports the use of digital currencies. The city council recently decided to accept crypto payments for city services. This means taxes, permit payments, fines, and municipal dues. People can use Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), and Tether (USDT).

The city teams up with a bank that immediately changes the digital assets into US dollars to ensure compliance with the law. It is Mizrachi’s view that this approach follows financial regulations and is convenient for everyone involved.

Furthermore, other countries are also considering Bitcoin in their government strategies. There are states in the United States, such as Arizona and New Hampshire, which have authorized the creation of state Bitcoin resources. Additionally, Ukraine is planning to establish a national Bitcoin reserve.

Mizrachi Eyes National Assembly to Push Bitcoin Reserve Plan

Meanwhile, other cities around the world are also allowing crypto payments. Both Lugano in Switzerland and Mendoza in Argentina allow the use of digital currency for public charges and services. Consequently, Panama City is included in the growing trend of cities embracing crypto.

A proposal for creating a reserve has not yet been presented by the mayor, yet many are discussing it. The next step for Mizrachi is to cooperate with Panama’s National Assembly to finalize the process. No proof has been given that this step will be taken.

Even so, this movement toward crypto payments is considered a significant leap in financial innovation. Many consider that putting a Bitcoin reserve in place could encourage more nations in the region to adopt digital assets.

In short, Panama City’s actions suggest that they are interested in cryptocurrencies. Even if the city does not establish a reserve of Bitcoin, its use of cryptocurrency for modern public services is already yielding benefits. Panama could play a significant role in the rise of digital finance soon.