kaal:claim:4033886-020

DCF currency translation breaks down for digital assets: no set discount rate or currency exchange forward curve exists for them, because they are not traded in exchange markets where closing prices are readily available and representative of fair value.

However, no such set discount rate or currency exchange forward curve is available for digital assets, as they are not traded in exchange markets where closing prices are readily available and representative of fair value.79

Wulf A. Kaal, Samuel Evans, Hayley Howe, Digital Asset Valuation (2022), III.3 Discounted Cash Flow Model, p. 20
https://ssrn.com/abstract=4033886 · source PDF

Wulf A. Kaal, Samuel Evans, Hayley Howe, Digital Asset Valuation (2022). SSRN: https://ssrn.com/abstract=4033886

• DCF analysis where the projection currency is a digital asset rather than fiat

failuresupport: arguedfailure: missing digital asset discount ratefamily: valuation-and-pricing-failureinstitutional-design

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