Panama Canal Could Prioritize Bitcoin-Paying Ships, Mayor Suggests

Christian Encila

1 month ago

3 mins read

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Panama City’s mayor, Mayer Mizrachi, put forward an unusual plan at the Bitcoin 2025 conference in Las Vegas on May 29. He suggested that cargo ships could speed up their transit through the Panama Canal if they paid in Bitcoin. It was a brief comment, but it set off a flurry of questions about how it might work in practice.

Bitcoin Payments For Priority Passage

According to reports from the panel, Mizrachi spoke alongside El Salvador’s Bitcoin policy leaders, Max Keiser and Stacy Herbert. He said that ships could “cut the line” by paying tolls in Bitcoin.

He offered the idea as a way to reward early adopters. It was presented in a casual tone, but it touched on a serious topic: how fast payments could tie into a long-standing shipping process.

Ships Could Pay Panama Canal Transit Fees in Bitcoin

The mayor of Panama City, Mayer Mizrachi, said he is exploring bitcoin payment options for ships passing Panama Canals.

“What if you have a perk for paying in bitcoin?” Mizrachi mused. “You’d get to go faster.” 🤣🤣🤣 pic.twitter.com/zciROaSGjM

— Ray (@ray4tesla) May 30, 2025

Questions Over Fees And Fairness

Based on what was discussed, the Canal’s current rule is first-come, first-served. Changing that would need approval from the Panama Canal Authority and Panama’s national government.

Shipping companies might push back if they feel smaller carriers are priced out. US President Donald Trump weighed in late last year, arguing that US ships faced “unfair tolls” and hinting at reclaiming the Canal in December 2024. That episode showed how sensitive Canal changes can be.

Handling A $5 Billion Business

According to the Panama Canal website, the waterway brought in around $5 billion in revenue between October 2023 and September 2024. Nearly 10,000 ships passed through, carrying about 423 million tons of goods. That’s about 5% of global maritime commerce.

BTC is now trading at $105,459. Chart: TradingView

If Bitcoin payments were allowed, the Authority would need a plan to deal with price swings. One day’s checkout could be 50 BTC, the next it might jump to 60 BTC. Panama would likely need a quick exchange system to turn BTC into dollars or other stable currencies.

A Push For City-Level Crypto

Mizrachi has also backed letting people pay city fees—taxes, fines and permits—in Bitcoin, Ether and USDC. He raised the idea of a Bitcoin reserve for Panama City, which produces over half of the nation’s GDP.

He noted he wouldn’t need more laws to start one. But real steps will depend on lawmakers and officials at the national level. For now, it remains a mayoral proposal, rather than a binding plan.

Mizrachi claimed over $5 billion in Bitcoin transactions happen in Panama every year, though much of it is “behind closed doors,” he said.

Featured image from Pexels, chart from TradingView

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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