A fresh wave of Bitcoin enthusiasm is sweeping through Panama after Panama City’s mayor, Mayer Mizrachi, voiced support for a plan that could bring cryptocurrency to one of the world’s most important trade routes.
The concept, championed by Bitcoin advocate and El Salvador presidential advisor Max Keiser, suggests giving shipping companies discounted canal fees if they pay in BTC. The goal: gradually build a national Bitcoin reserve from the steady stream of payments flowing through the canal.
With 13,000 to 14,000 vessels crossing the 82-kilometer waterway each year and revenues topping $5 billion annually, even a modest adoption rate could create significant reserves for the country. Keiser believes this approach would make Panama a global example of how strategic crypto integration can strengthen national wealth.
Mizrachi called the proposal “brilliant” and expressed hope that the Panama Canal Authority will examine its potential. If implemented, it would not only diversify the nation’s income but also reinforce its growing reputation as a crypto-friendly jurisdiction.
Panama has already laid much of the groundwork. Earlier this year, new legislation allowed businesses and individuals to transact voluntarily in digital assets, while setting up licensing standards for virtual asset service providers and aligning with international financial compliance rules.
Should the Bitcoin toll initiative move forward, the country would be taking one of its most high-profile steps yet toward embedding cryptocurrency in its economic infrastructure.
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Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/panama-canal-may-consider-bitcoin-for-toll-payments-as-mayor-pushes-bold-idea/