This is a massive thing because Nations is in the race to collect BTC but they have already analyzed the Bitcoin reserves, you can see about Panama's strategic reserves. Previously the mayor of Panama City had presented this issue, meaning they were enthusiastic about discussing it with the Latin American country. The mayor of Panama City hinted at accepting Bitcoin when they were in talks with El Salvador even currently it appears that the Philippines is very interested in accumulating its own BTC. There is also a need to increase transparency in their financial activities, So Panama will have to implement this urged, if they want to establish the reserve.

Panama City mayor hints at Bitcoin reserve plans after El Salvador talks