The mayor of Panama city, Mayer Mizrachi, made a remarkable proposal during the Bitcoin 2025 conference in Las Vegas: ships paying in Bitcoin could be given priority when passing the Panamakanaal.
“What if you can sail through the channel faster if you pay with Bitcoin?” Mizrachi said during a panel discussion with representatives from El Salvador – the first country in the world that Bitcoin recognized as a legal payment method.
Strategic plan for world trade and crypto integration
The Panama Canal is one of the most important links in global shipping. Every year, around 5% of all maritime trade passes the channel. In the past tax year this yielded nearly 10,000 ship passages and around $ 5 billion in income for Panama.
Mizrachi’s proposal is part of a broader strategy to position Panama as a leading crypto-hub. Recently it is possible for residents of Panama city to pay public services-including taxes and fines-with crypto currency.
Panama City is considering its own bitcoin reserve
The mayor also announced that he would work on building a Bitcoin reserve for the city. According to him, no approval of parliament is required.
Mizrachi estimates that more than $ 5 billion of Bitcoin transactions in Panama takes place every year, although this is largely out of sight of the government due to the lack of clear regulations. He argues for a pragmatic approach: “Let it work and then decide whether you want to stimulate or limit it.”
International attention for Panama Canal is growing
The initiative comes at a time of geopolitical tension around the Panama Canal. In December 2024, former President Donald Trump called for renewed American control, for fear of increasing Chinese influence and unfair toll rates for American ships.
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Source: https://newsbit.nl/panama-overweegt-snellere-toegang-tot-panamakanaal-voor-bitcoin-betalers/
