Panama City Mayor Flirts With Bitcoin Treasury Play After Secretive El Salvador Talks

Panama’s capital might be the next domino to fall in LatAm’s crypto adoption spree. The mayor dropped heavy hints about creating a Bitcoin reserve—just days after huddling with El Salvador’s pro-BTC leadership.

Why it matters: If Panama City pulls the trigger, it could spark a chain reaction of municipal BTC experiments across emerging markets. Or, more likely, give hedge funds another ’macro narrative’ to pump and dump.

The kicker? No official proposal exists yet. Just another politician realizing crypto headlines are cheaper than actual infrastructure projects—and way more fun for their Twitter followers.

The timing of Mizrachi’s post is notable, coming just over a week before the Bitcoin 2025 conference in Las Vegas, where he is slated to deliver a speech. 

On April 15, 2025, the Panama City Council approved a measure allowing residents to pay taxes, fees, permits, and fines using Bitcoin (BTC), ethereum (ETH), as well as stablecoins such as USD Coin (USDC) and Tether (USDT).

The move positions Panama City as a regional leader in cryptocurrency adoption and reflects a growing trend of municipalities worldwide incorporating blockchain technology into their financial frameworks.

Governments across the globe now collectively possess more than 463,700 Bitcoin, representing roughly 2.3% of the cryptocurrency’s total circulating supply, according to a CoinGecko report published on April 28. 

The report also noted El Salvador’s expanding national Bitcoin treasury, which has reached 6,135 BTC through its policy of consistent daily acquisitions—an effort closely tied to the country’s broader Bitcoin integration strategy.

El Salvador continues to stand out as the sole country actively acquiring Bitcoin on a daily basis, having accumulated 6,135 BTC to date as part of its sovereign reserve approach.

As more cities and nations explore the role of digital assets in their financial strategies, the conversation around sovereign crypto reserves is likely to intensify. The potential for Bitcoin to serve as both a hedge against inflation and a tool for economic modernization has attracted interest far beyond the crypto-native community.

From public sector experiments to grassroots advocacy, the integration of blockchain-based assets into municipal and national frameworks signals a shift in how value and policy may intersect in the digital age.

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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the shiba inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.