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Investing.com -- CaliberCos Inc (NASDAQ:CWD) stock surged 80% after the real estate asset manager announced its Board of Directors has approved a new digital asset treasury strategy focused on acquiring LINK tokens, which support the Chainlink protocol.
The company plans to allocate a portion of its treasury funds to acquire cryptocurrency, specifically LINK tokens, and engage in activities to maximize returns from these digital assets. Caliber’s initial focus will be acquiring LINK with equity to be held for long-term appreciation and generating yield through staking.
In connection with this strategy, Caliber has formed a Crypto Advisory Board comprised of digital asset and blockchain experts to provide guidance on implementation and oversight of the company’s digital asset initiatives.
"We believe that implementing a digital asset treasury strategy strengthens our balance sheet and aligns Caliber with the future of digital finance, positioning us at the forefront of innovation in the real estate and investment management sector," said Chris Loeffler, Chief Executive Officer of Caliber.
The company’s digital asset treasury policy establishes a framework for acquisition, custody, and management of digital assets, including security protocols and internal controls. Caliber intends to fund LINK acquisitions through its existing ELOC, cash reserves, and issuance of equity-based securities.
The Board believes holding LINK as a reserve asset can provide exposure to a liquid digital asset with long-term appreciation potential, while enabling Caliber to leverage Chainlink’s technology to automate business processes such as asset valuation and fund administration.
Caliber cited Chainlink’s institutional partnerships with Mastercard, DTCC, and SWIFT as evidence of its acceptance and role in the future of finance.
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