Panama City Mayor Considers Bitcoin Reserve After Meeting El Salvador Officials; Bukele Reports $357 Million Profit on $287 Million Bitcoin Investment

The mayor of Panama City has indicated plans to create a Bitcoin reserve following a meeting with officials from El Salvador, including Bitcoin advocates such as Max Keiser and Stacy Herbert. The discussions highlighted Panama's potential to become a Bitcoin pioneer, with Keiser noting the country's hydroelectric resources could support Bitcoin mining. Meanwhile, El Salvador's President Nayib Bukele revealed that the country's Bitcoin holdings have appreciated by $357 million, reflecting a 124% gain. El Salvador initially invested $287 million in Bitcoin, which has now grown to over $644 million, marking a substantial recovery from a low of $25 million in 2022. This update underscores El Salvador's ongoing commitment to its strategic Bitcoin reserve.

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