Panama City Mayor Mayer Mizrachi has suggested a bold new approach to boost Bitcoin adoption and modernize the country’s global trade hub.
Speaking at the Bitcoin 2025 conference in Las Vegas on 29 May, Mizrachi proposed that ships transiting the Panama Canal could pay in Bitcoin (BTC) to receive faster passage through the waterway.
AMAZING PANEL WITH MAX, STACY, MIKE, & PANAMA CITY MAYOR MIZRACHI ???????? pic.twitter.com/E5sqqHbZkJ
— The Bitcoin Conference (@TheBitcoinConf) May 29, 2025
During a panel alongside El Salvador’s Bitcoin policy leaders, Mizrachi asked,
“What if you get a perk for paying in Bitcoin, get your ship to go quicker if you pay in Bitcoin?”
The idea would allow cargo ships to skip the queue if they settle canal fees in BTC.
The Panama Canal is a vital trade route connecting the Caribbean and Pacific Oceans, handling about 5% of global maritime commerce each year. In the last fiscal year, the canal generated around $5 billion in revenue, with nearly 10,000 ships transporting 423 million tons of goods through its locks.
Mizrachi’s proposal comes as Panama City pushes for broader crypto adoption. The city recently approved the use of cryptocurrencies for public payments, including taxes, fines, and municipal fees. Mizrachi has also floated the idea of establishing a Bitcoin reserve for Panama City, which accounts for more than half of the country’s GDP. He noted that such a move would not require legislative approval.
On the regulatory front, Mizrachi urged lawmakers to take a hands-off approach to crypto, saying,
“Don’t touch it, don’t get near it, don’t even look at it, let it operate, let it function. Then decide what it needs. Do you want to restrict it, or do you want to promote it?”
The mayor claims that Panama sees over $5 billion in Bitcoin transactions annually, though much of this activity remains underground due to regulatory uncertainty and public hesitation.
In another development, Block Inc. plans to integrate Bitcoin payments onto its Square platform utilizing the Lightning Network for faster, cheaper transactions, aiming for full implementation by 2026. Merchants will have the option to hold Bitcoin or instantly convert it to fiat currency.
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