How to evaluate a company paid in cryptocurrency?
I am evaluating a business that sells services into the web3/blockchain ecosystem. The revenue numbers are attractive, and profit margins are healthy but the company is paid in cryptocurrency. In fact the entire business seems to operate on crypto (paying employees, vendors, receiving payments, etc). The company is based outside of the US so there is not an ability to secure an SBA loan. The demand for their services seems fairly steady.
Are there M&A lenders who work in the blockchain space? How do lenders feel about businesses operating internally on cryptocurrency? What should I look for specific to these kinds of businesses?