Panama City Mayor Mayer Mizrachi just dropped a cheeky idea at the Bitcoin 2025 conference in Vegas: what if ships could pay in Bitcoin to skip the line and speed up their trip through the Panama Canal?
“We have a canal — what if you get a perk for paying in Bitcoin, get your ship to go quicker if you pay in Bitcoin.”
Mizrachi joked while chatting with El Salvador’s Bitcoin gurus Max Keiser and Stacy Herbert. Mike Peterson, the Bitcoin Beach director, kept the convo flowing.
AMAZING PANEL WITH MAX, STACY, MIKE, & PANAMA CITY MAYOR MIZRACHI 🔥🚀 pic.twitter.com/E5sqqHbZkJ
— The Bitcoin Conference (@TheBitcoinConf) May 29, 2025
The Panama Canal is a big deal, connecting the Caribbean and Pacific Oceans and saving ships weeks of sailing around South America. About 5% of global maritime trade zooms through it every year.
In the last full fiscal year (Oct 2023 - Sept 2024), nearly 10,000 ships passed through, moving 423 million tons of goods, and raking in around $5 billion in revenue for Panama.
Back in December 2024, the canal made headlines when Trump suggested the US should take it back, worrying about China’s influence and griping over tolls on US ships.
Panama’s Bold Bitcoin Moves Amid Social Challenges
Panama City isn’t messing around with crypto either, they’ve recently approved using crypto for public payments like taxes and fines. Mizrachi wants to follow El Salvador’s lead by pushing Bitcoin payments for the canal, and even floated creating a Bitcoin reserve for Panama City, which generates over half the country’s GDP.
On the regulation front, Mizrachi told lawmakers to chill out: “Don’t touch it, don’t get near it, don’t even look at it, let it operate, let it function.” Then they can decide whether to promote or restrict it.
He also claimed Panama sees over $5 billion in Bitcoin transactions every year, though much happens quietly because folks are still wary.
Meanwhile, Panama’s facing some heat: a state of emergency was declared in Bocas del Toro after Chiquita Brands laid off over 5,000 striking workers demanding better social security. Chiquita says it lost $75 million due to the strikes and roadblocks.
Kristian Koch
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