In a significant development for Bitcoin adoption in Central America, Panama City Mayor Mayer Mizrachi has declared Bitcoin as not just a safe asset but a prosperous one, marking another milestone in the region’s growing embrace of cryptocurrency. This announcement comes as El Salvador’s Bitcoin strategy continues to gain international recognition.
Panama’s Bitcoin Integration Journey
Speaking at the 2025 Bitcoin Conference in Las Vegas, Mayor Mizrachi revealed that Panama City has already implemented Bitcoin payment processing, albeit through an intermediary system that converts BTC to dollars. “We accept Bitcoin. The city gets paid in Bitcoin, but it receives in dollars through an intermediary processing, payments processor. Bitcoin is not just safe. It’s prosperous,” Mizrachi stated.
Regional Bitcoin Adoption Strategy
The panel discussion, titled “Is Panama Next? El Salvador Leading The Region For Bitcoin Adoption,” featured key figures in the cryptocurrency space:
- Mike Peterson – Director of Bitcoin Beach
- Max & Stacy – Presidential Advisors of Building Bitcoin Country El Salvador
- Mayor Mayer Mizrachi – Panama City Mayor
El Salvador’s Regulatory Framework
El Salvador’s approach to cryptocurrency regulation has set a precedent for the region. Max highlighted two crucial initiatives:
- The establishment of The Bitcoin Office reporting directly to the President
- Legislation declaring Bitcoin as money while classifying other cryptocurrencies as unregistered securities
Educational Innovation in Central America
A standout revelation during the panel was El Salvador’s groundbreaking educational initiative. The country has become the first nation to implement comprehensive financial literacy education in public schools, starting from age seven. This development aligns with broader institutional adoption trends in the Americas.
Game Theory and Economic Impact
The discussion concluded with insights into the game theory aspects of Bitcoin adoption. Max emphasized how Panama’s potential Bitcoin investments could create positive network effects, benefiting both regional and U.S. interests while transforming spending habits into saving-oriented behaviors.
Frequently Asked Questions
How is Panama currently implementing Bitcoin payments?
Panama City accepts Bitcoin payments through an intermediary processor that converts cryptocurrency to dollars, allowing for seamless integration with existing financial systems.
What is El Salvador’s approach to cryptocurrency regulation?
El Salvador has established a dedicated Bitcoin Office and passed legislation recognizing Bitcoin as legal tender while classifying other cryptocurrencies as unregistered securities.
How does Panama’s Bitcoin adoption affect the region?
Panama’s Bitcoin adoption could create an economic block in Central America, potentially inspiring other nations to follow suit and strengthening regional financial cooperation.
