Panama City Mayor Mayer Mizrachi has proposed a bold new idea: allow ships to pay in Bitcoin for priority access to the Panama Canal. Speaking at the Bitcoin 2025 conference in Las Vegas, Mizrachi suggested that vessels willing to pay in Bitcoin should be able to “cut the line” and gain faster passage through one of the world’s most vital shipping routes.
Bitcoin for Faster Access Through the Canal
“What if you get a perk for paying in Bitcoin — get your ship to go quicker if you pay in Bitcoin,” Mizrachi said during a panel with El Salvador’s Bitcoin advisors Max Keiser and Stacy Herbert.
The Panama Canal, which connects the Caribbean Sea and Pacific Ocean, handles about 5% of all global maritime trade. In the last fiscal year (October 2023 to September 2024), the canal processed nearly 10,000 ships, transporting 423 million tons of cargo and generating over $5 billion in revenue, according to official Panama Canal Authority data.
Panama City Leads in Crypto Adoption
Panama City recently approved a measure that allows residents to use cryptocurrencies for public payments, including taxes, municipal fees, and fines. Mizrachi wants to go further, suggesting Panama establish a Bitcoin reserve to strengthen its financial position — a move he claims can be implemented without legislative approval.
“Panama City accounts for more than half of Panama’s GDP, and I don’t need legislation to adopt a Bitcoin reserve,”
He also criticized attempts to regulate the industry prematurely.
“Don’t touch it, don’t get near it, don’t even look at it,” he told lawmakers, urging them to let the crypto ecosystem grow freely before deciding how to regulate it.
Global Context and Growing Tensions
Mizrachi’s Bitcoin-for-passage idea comes amid geopolitical tensions around the canal. In December 2024, former U.S. President Donald Trump called for the U.S. to reclaim control of the canal, citing Chinese influence and unfair tolls on U.S. vessels.
Meanwhile, Panama declared a state of emergency in its Bocas del Toro province due to ongoing labor strikes. Chiquita Brands recently laid off over 5,000 workers, claiming over $75 million in business losses from roadblocks and unrest.
Bitcoin Adoption Quiet but Widespread
Mizrachi claims over $5 billion in annual Bitcoin transactions already take place in Panama — much of it privately.
“People are afraid to embrace Bitcoin publicly, but the adoption is happening,” he said.
Panama’s stance could signal a growing trend in linking digital assets with global infrastructure and trade incentives.