Are we there yet?

This post was originally published on golifelog.com.

As some of you might know, I’m working at a startup company that deals with cryptocurrency taxes. Yes, you need to pay taxes on your Bitcoin gains. And the last couple of days were a little bit wild.

Bitcoin recently surpassed 60k USD and people started to freak out around the world. Are we in the next “bull run” or is this just a run-up to the upcoming bitcoin halving? Well, I don’t have a crystal ball which I could ask for the future, but it feels like we might be nearing an upswing.

In contrast to the last bull run, I’m prepared this time. In the last one, I managed to make 35k EUR out of around 3k EUR on my crypto.com Card Stake, which meant I got Spotify, Netflix and Amazon Prime almost for free (well, you get compensated in CRO (the native currency) which you can sell for EUR afterwards). But this time I want to exit even more and this time, I’ve got several prices where I know which (and how large) portions of my crypto holding I would like to sell. Although, I’m fearing the day when that money comes to my account.

It’s not that I don’t have my taxes prepared for such an occurrence, it is the fact that banks here in Austria still like to freeze whole accounts on larger inflows. Which means not SEPA direct debit any more and no access to cash. The process of unlocking an account again can take weeks (in that time you might not be able to pay the mortgage or receive your payment from your employer). I think I might need another, dedicated account when the time arrives, but we might not be there yet.