Ari10 Weekly Newsletter #101 (Crypto Business Insights, Crypto Market News and Ari10 Company Update)

What happened this week in the crypto space?

GM! This is Mateusz Kara.

And you've just found the best place in the crypto space to know more about the blockchain industry. I'm also giving you updates on my biz.

In Today's edition:

1/ New Bitcoin ATH

2/ Ethereum Network Update

3/ MicroStrategy Buys More BTC

4/ Changes to the Belka Tax

+ Crypto Business Insights & Ari10 Company Update

Sounds interesting? I think so.

Let's dive deeper into the crypto rabbit hole:

1/ New Bitcoin ATH

On the Bitcoin chart, we have a new ATH. It's around $73,800 (the result varies by exchange).

However, after reaching it, a correction brought the price below the previous record - $69,000. Today, 1 Bitcoin costs $67,850.

2/ Ethereum Network Update

There has been a new update on the Ethereum network - Dencun. It was designed to reduce network transaction fees at layer 2. Did it succeed? Yes! As data regarding OP Mainnet, Base, zkSync, Arbitrum, and Zora show, costs have decreased. The scale of the decreases is clearly visible in the chart below.

Dencun will help with Ethereum adoption, as the high costs of using this network (including layer 2) were a problem until now.

3/ MicroStrategy Buys More BTC

MicroStrategy continues its bitcoin investment strategy. The company announced that it would issue and sell bonds worth $500 million. In return, it will buy another batch of cryptocurrencies. As a result, it may have up to $205,000, approaching ownership of 1 percent of all bitcoins ever mined. It is known that the bonds will be repaid in 2031. Their interest rate is unknown.

"MicroStrategy intends to use the net proceeds from the sale of the bonds to acquire additional bitcoins and for general corporate purposes," the company added in a statement.

4/ Changes to the Belka Tax

The time to pay capital gains taxes is approaching. It is worth mentioning that the Polish government has proposed changes to the Belka tax. The problem is that it is not what was expected.

Details were presented in an interview with Puls Biznesu by Finance Minister Andrzej Domański.

"In our proposal, we assume that for deposits with a maturity of more than a year, income (interest) would be exempt from tax - within a dedicated banking product or savings package - corresponding to the value resulting from multiplying 100,000 PLN by the NBP deposit rate applicable on the last day of the third quarter of the year preceding the tax year," said the politician.

What about stocks or cryptocurrencies?

"In the case of income from other financial instruments - such as stocks, bonds, or units of participation in funds - in a given year, there will de facto be a tax-free amount, also calculated as the product of 100,000 PLN and the deposit rate or its multiplier," the minister added.

To fully discuss this, we have to wait for the entire draft law.

Crypto Business Insights ??

What is not a cryptocurrency?

Based on Article 2(2)(26) of the Anti-Money Laundering and Counter-Terrorist Financing Act, a cryptocurrency is not:

• Legal tender issued by the National Bank of Poland, foreign central banks, or other public administration bodies;
• An international settlement unit established by an international organization and accepted by individual countries belonging to that organization or cooperating with it;
• Electronic money as defined in the Act of 19 August 2011 on payment services;
• A promissory note or check.

Furthermore, a cryptocurrency does not constitute a financial instrument within the meaning of the Act of 29 July 2005 on financial instruments trading. Therefore, the most important issue arising from the formal definition of virtual currency is that it is neither legal tender nor electronic money.

Bitcoin, Litecoin, PerfectMoney, and other cryptocurrencies

In the context of cryptocurrency definitions, it is also worth emphasizing that the concept of virtual currency includes both classical cryptocurrencies, such as Bitcoin, Litecoin, Monero, and others, as well as centralized virtual currencies (e.g., WebMoney or PerfectMoney). The main difference between them lies in the way they are administered, issued, and distributed.

ARI10 COMPANY UPDATE ??

Announcing a new partnership that will ?????????????? ???????? ???????????? ???? ????????! ??

Meet our newest partner, FXMAG, one of the largest Polish portals with the latest economic and financial news from the country and the world.

You will find so much news on exchange rates, the stock market, forex, cryptocurrencies, and real estate there. But back to the title, ?????????? ???????? ?????????? ?????? ???? ????????? ??

The bull market is starting, and we want to make an impact on Web3 adoption through collaboration with FXMAG on many levels:

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We believe that together we will revitalize the Web3 space by bringing many new users from Web2! ??

News few expected: Ari10 enters MMA! ??

As you know, our CEO Mateusz Kara has not been idle in the ring lately, and Ari10 has become an official sponsor of Piotr Kuberski (Qbear)!

Qbear, representing Ankos MMA Poznań, a leading club on the mixed martial arts map, is one of the most talented middleweight MMA fighters. He has an impressive record of 12 wins in 13 fights ??

On top of that, tomorrow we will all have a chance to see him in the fight of the night with Micha? Materla during #KSW92. For those who don't know, KSW MMA is the largest federation in Poland and one of the largest worldwide.

Due to the popularity of mixed martial arts, this is an opportunity for Ari10 to reach more people and build an image in the valued sport! ??

All this would not have been possible without the involvement of many people associated with Kantor Kryptowalut Ba?tyk Poznań Ari10, Ari10, and Ankos Poznań. Well done to Karol ?apawa, Marcin Bilman, and all the others involved.

In a fighting mood, we look forward to the fight. Best of luck Qbear! ??

And that’s all for today. Thanks for your time, investors & Crypto Geckos! ?? ????

Please rate this newsletter with a reaction

?? - well done, Matt

???? - acceptable, it’s OK

?? - meh, do better…

Thanks for your feedback and see you next week!

Mateusz Kara