Bitcoin Payments In Panama Canal

In a groundbreaking move that merges global trade with digital finance, Panama City Mayor Mayer Mizrachi has proposed a bold initiative: allow cargo ships to skip the line at the Panama Canal—if they pay in Bitcoin.

Unveiled at the high-profile Bitcoin 2025 conference in Las Vegas, the proposal aims to turn the iconic waterway into a crypto-powered gateway, potentially reshaping international shipping logistics and accelerating Bitcoin adoption on the world stage.

Mayor Mizrachi's Bold Bitcoin Proposal

Speaking alongside El Salvador’s Bitcoin policy leaders Max Keiser and Stacy Herbert—with Bitcoin Beach director Mike Peterson moderating—Mizrachi introduced a game-changing idea:

“We have a canal—what if you get a perk for paying in Bitcoin? Get your ship to go quicker if you pay in Bitcoin.”

Under this plan, cargo ships paying in BTC would be allowed to “cut the line,” offering a powerful incentive for shippers to adopt cryptocurrency while streamlining a process that currently sees thousands of vessels waiting in queue annually.

The Panama Canal plays a critical role in global commerce, linking the Caribbean and Pacific Oceans and saving ships weeks of travel time compared to rounding South America.

In the most recent fiscal year, nearly 10,000 ship transits were recorded, moving 423 million tons of goods—roughly 5% of global maritime trade—and generating $5 billion in revenue for Panama.

Panama Taking Notes From El Salvador

Mizrachi’s proposal arrives amid rising geopolitical tensions. In December 2024, former U.S. President Donald Trump floated the idea of reclaiming control over the Panama Canal, citing concerns over Chinese influence and inequitable toll policies.

This Bitcoin proposal is just one of many crypto-forward moves by Panama City under Mizrachi’s leadership. The city has already approved the use of cryptocurrencies for taxes, fines, and municipal payments.

Now, Mizrachi is pushing for the creation of a city-level Bitcoin reserve—a plan he claims can proceed without national legislative approval.

He’s also calling for minimal interference from lawmakers

“Don’t touch it, don’t get near it, don’t even look at it. Let it operate, let it function. Then decide what it needs. Do you want to restrict it or do you want to promote it?”

Mizrachi estimates that over $5 billion in Bitcoin transactions occur annually in Panama, although much of this remains off the radar due to regulatory uncertainty and public hesitancy.

Bitcoin as a Tool for Global Trade

Mizrachi’s vision elevates Bitcoin beyond its role as a speculative asset, positioning it as a strategic tool for enhancing operational efficiency in global trade.

If adopted, the Panama Canal’s Bitcoin fast pass could set a global precedent—becoming a pioneering model for the digitalization of commerce. By following in the footsteps of El Salvador’s Bitcoin integration, Panama stands to become a vital hub in the emerging crypto-powered global economy.