Mayor Panama City, Mayer Mizrachi, issued an unusual plan at the Bitcoin 2025 conference in Las Vegas on May 29. He suggested that freight vessels can accelerate their transit through the Panama Canal if they pay Bitcoin. It was a low comment, but it caused a lot of questions about how it can work in practice.
Bitcoin payments for a priority transition
According to reports from the Mizrachi panel, he spoke next to Salvador bitcoin policy Leaders, Max Keizer and Stacy Herbert. He said that ships could “lower the line” by paying bitcoins.
He proposed this idea as a way to reward early adoption. He was presented in a free tone, but he touched on a grave topic: how quick payments can be associated with a long -term shipping process.
Ships can pay fees for the transport of the Panama Canal in Bitcoin
Mayor Panama City, Mayer Mizrachi, said he was exploring the Bitcoin payment options for ships passing by Panama channels.
“What if you have a profit for paying in Bitcoin?” Mizrachi wondered. “You’ll be able to go faster.”
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Questions about fees and honesty
Based on what was discussed, the current principle of the channel is the first. A change that would require approval by Panama channel Authority and the Panama government.
Shipping companies can push away if they think smaller carriers are valued. US President Donald Trump weighed at the end of last year, arguing that American ships faced “dishonest fees” and pointing to the recovery of the channel in December 2024. This episode showed how sensitive the channel changes could be.
Company service worth $ 5 billion
According to Panama Canal, the waterway brought revenues from about $ 5 billion between October 2023 and September 2024, almost 10,000 ships passed, carrying about 423 million tons of goods. This is about 5% of global maritime trade.
If Bitcoin payments were allowed, the authority would need a plan to deal with price fluctuations. One day of the cash register can be 50 BTC, and then it can jump up to 60 BTC. Panama would probably need a quick exchange system to transform BTC into dollars or other stable currencies.
Cryptocurrency push at the city level
Mizrachi also supported people to pay city fees – tests, fines and permits – in bitcoins, Ether and USDC. He raised the idea of the Bitcoin reserve for Panama City, which produces more than half of the country’s GDP.
He noticed that he would not need more regulations to start them. But the actual steps will depend on the legislators and officials at the national level. For now, this is the mayor’s proposal, not a binding plan.
Mizrachi won over $ 5 billion in Bitcoin transactions in Panama each year, although a significant part is “behind the door closed,” he said.
A distinguished picture from Pexels, chart from TradingView
