CaliberCos Inc. (NASDAQ: CWD) has announced the approval of a digital asset treasury strategy centered on Chainlink’s LINK token. The announcement sparked an 80% surge in its stock price.
Caliber Diversifies Treasury with Chainlink (LINK) Investment
According to the official statement, the move positions Caliber as one of the first publicly traded U.S. firms incorporating LINK as a holding in its treasury. The Digital Asset Treasury Strategy and Policy passed by the Board of Directors states that part of its treasury funds would be invested in LINK. The purpose is to gain returns through long-term increase in the value of LINK and receive staking incentives from the Chainlink network.
Caliber said that the plan will put its balance sheet in a better position and provide it with additional cash. The firm noted that Chainlink has collaborations with leading international companies like mastercard, SWIFT and DTCC.
These demonstrate that Chainlink is a valuable finance infrastructure element. By holding LINK, Caliber aims to gain exposure through a liquid, high quality digital asset that has true usefulness.
Caliber also formed the Caliber Crypto Advisory Board to run the project. This group of blockchain and legal professionals shall assist in matters regarding regulations, safety and the management of assets. The company confirmed that LINK acquisitions will be funded using existing equity lines and cash reserves. Institutional recognition of LINK is also accelerating following a recent Bitwise Chainlink ETF filing.
Chief Executive Officer Chris Loeffler described the move as a natural evolution for Caliber. He said the strategy aligns the company with the future of digital finance. It also establishes that the company uses real estate and digital assets as diversified alternative asset managers.
Caliber manages over $2.9 billion in assets. Its primary focus is on real estate ventures such as hotels, apartment buildings and factories.
The LINK treasury project is an additional dimension to its investment strategy. It is designed to differentiate Caliber from the usual real estate companies and attract new investors.
Caliber Stock Rises By 80% After Chainlink Treasury Announcement
Following the announcement, stock price of Caliber increased. According to TradingView data, the shares traded at $2.93, this represents an 78% change. The increase indicates that investors are highly interested in the company’s move towards investing in real estate with blockchain technology. This comes as Chainlink itself expands its ecosystem, with the launch of a LINK Token Reserve.
The large increase in CWD shares indicates market responses when a firm is implementing blockchain. Should it be successful, this plan of Caliber will help motivate other U.S. companies of the same type into utilizing LINK as a treasury asset.
Paul
Paul Adedoyin is a crypto journalist with 4+ years experience who provides timely news, in-depth research, and insightful content to inform and empower his audience. His works have been featured on sites such as CryptoMode, CryptoNewsFlash among others.
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Source: https://coingape.com/nasdaq-listed-caliber-to-launch-first-public-chainlink-treasury/