Panama City Mayor Eyes Bitcoin Adoption Inspired by El Salvador

Panama City Mayor Mayer Mizrachi is exploring bold plans to integrate bitcoin into the capital’s financial systems, drawing direct inspiration from El Salvador’s pioneering crypto policies. Speaking at Bitcoin 2025 in Las Vegas, Mizrachi revealed his vision for transforming the city — known globally for the Panama Canal — into a crypto-forward hub.

Mizrachi is considering establishing a strategic bitcoin reserve and enabling bitcoin payments for various public services. Notably, he floated the idea of accepting bitcoin for passage through the Panama Canal, even suggesting perks like faster processing for those who pay in BTC.

“What if you have a perk for paying in bitcoin? You’d get to go faster,” Mizrachi said, hinting at innovative incentives that could make crypto adoption appealing for global users of the canal.

Under his leadership, Panama City has already passed a bill allowing residents to pay taxes, parking fees, permits, and other city services using bitcoin (BTC), ether (ETH), and select stablecoins. This marks a significant step toward digital asset integration at the municipal level.

Mizrachi credits his inspiration to Nayib Bukele, the President of El Salvador, who announced in 2021 at Bitcoin Miami that bitcoin would become legal tender in his country. Bukele’s groundbreaking move made El Salvador the first nation to fully embrace bitcoin on a national scale, a model Mizrachi is now adapting for Panama City.

With growing interest in crypto adoption across Latin America, Mizrachi’s initiatives could position Panama City as a leading crypto-friendly destination, potentially revolutionizing digital payments and infrastructure in the region.