Panama’s Mayor Bets on Bitcoin: Will It Float or Sink? 🚢💰

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Well now, gather ’round, folks! Mayer Mizrachi, the esteemed Mayor of Panama City, has been yapping about the wonders of Bitcoin at a grand ol’ conference. He’s got a wild idea to let folks pay their tolls on the Panama Canal with good ol’ BTC, among other schemes to get the economy humming like a well-oiled machine.

Now, let’s not kid ourselves; one mayor’s office ain’t exactly a magic wand for transforming a nation’s economic fate. But bless his heart, Mizrachi is showing us that even the smallest steps in Bitcoin adoption can lead to a mighty leap forward.

Mizrachi’s Bitcoin Bonanza

Over the last few years, Panama has been trying to shake up its Bitcoin policies, but it seems like they keep hitting a brick wall. Talk about a stubborn mule! 🐴

But here comes Mayer Mizrachi, ready to stir the pot once more. Just like El Salvador, Panama is stuck using the US dollar as its legal tender. Mizrachi laid out a new plan to change that, and it’s as clever as a fox in a henhouse:

“What we created was a roadmap for how cities can embrace Bitcoin regardless of national law. You can build the building blocks, so the central government can copy what you’re doing after it’s proven. 70% of [Panama’s] GDP is in my city. Whatever my city does, it makes waves around the country,” Mizrachi claimed.

He even had the gall to suggest accepting Bitcoin for municipal tax payments. Now, that’s a fine idea, but there’s a catch: the city has to swap all that shiny BTC for USD. It’s like trading a gold nugget for a handful of pebbles! This little scheme has got Panama’s biggest banks scratching their heads and figuring out how to deal with Bitcoin.

To the moon #BTC 🚀

— Mayer Mizrachi (@Mayer) May 30, 2025

Already, Mizrachi is playing the role of the wise old owl, advising other mayors in the region on how to kickstart similar initiatives. This limited project is a nifty way to shake up Panama’s entire Bitcoin scene without waiting for a whole government overhaul.

But hold your horses! Mizrachi knows that for Bitcoin to really take off, he’ll need a whole lot more political backing. He mused that BTC could be used for tolls on the Panama Canal, but let’s be real—the US might throw a fit over that one.

a lively DeFi ecosystem. Mizrachi tipped his hat to Nayib Bukele, who turned El Salvador into a Bitcoin powerhouse. 🏆

Panama could start stacking up a Bitcoin Strategic Reserve, but more importantly, it needs to cozy up to other crypto enthusiasts in the region.

So, while Panama City’s mayor can’t single-handedly change Bitcoin’s fate, Mizrachi sees his efforts as a shining example of what’s possible. He painted a picture of the economic opportunities crypto could bring to Central America and reminded us that a brighter future is within reach. With a little elbow grease, dedicated advocates can spark mighty changes with just a few small actions.

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2025-05-31 01:52