The mayor of Panama City, Mayer Mizrachi, launched the idea of allowing ships to transit the Panama canal to pay in Bitcoin for faster passage.
Mizrachi offered during a round table during the Bitcoin 2025 conference in Las Vegas on May 29 that cargo ships could reduce the line while waiting for their passage through the key shipping channel by paying in Bitcoin (BTC).
“We have a channel – and if you get an advantage to pay in Bitcoin, bring your ship to go faster if you pay to Bitcoin,” suggested Mizrachi, speaking with two Bitcoin Politics of El Salvador, Max Keizer and Stacy Herbert. Bitcoin Beach director in Salvador, Mike Peter Son, moderated the panel.
The Panama canal is an artificial navigable route connecting the Caribbean and Pacific oceans, allowing cargo cargoes to save weeks of travel time instead of having to navigate in South America. It plays a key role in world trade, with around 5% of the world maritime trade which crosses it each year.
The ships pay to transit the canal, the Panama winning approximately $ 5 billion in channel income in its last full financial year between October 2023 and September 2024, according to the Panama Canal website.
Nearly 10,000 ships crossed the canal during this period, transporting 423 million tonnes of goods.
The Panama Canal became a controversial subject in December 2024 when Trump announced that the United States could recover control of the channel, citing concerns about the increase in Chinese influence and claiming that unjust tolls are imposed on American ships.
Panama City has been on the front foot with the adoption of Bitcoin lately, after recently approved a measure allowing the use of the crypto for public payments, including taxes, fines and municipal costs.
Bitcoin payments for the Panama Canal are one of the many ideas that Mizrachi has presented in recent weeks when he explores how his country can follow the example of El Salvador in the adoption of Bitcoin.
He also presented the idea of establishing a Bitcoin reserve for Panama City – which houses more than half of the Panama world national product – stressing in the round table that he would not need legislative approval to adopt such a measure.
Mizrachi wants Panama legislators to take a rear seat
Mizrachi has urged Panama legislators to suspend work on bills to regulate crypto, rather pushing a ready -to -regulation approach.
“Do not touch it, don’t approach it, don’t even look at it, let it work, let it work,” said Mizrachi.
“So decide what he needs. Do you want to restrict it or do you want to promote it? ”
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Mizrachi says more than $ 5 billion in Bitcoin transactions occur each year in Panama, but said that a large part of the adoption had taken place in camera, because many are afraid of kissing Bitcoin.
Mizrachi’s comments are intervened while Panama declared the state of emergency in the province of Bocas del Toro after the Banana Banana brands dismissed more than 5,000 workers who protested stronger social security measures.
Chiquita says it has lost more than $ 75 million following strikes and roadblocks with an impact on commercial operations.
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