In brief
- Publicly traded real estate asset management firm Caliber is launching a treasury focused on Chainlink.
- The company plans to utilize cash reserves alongside current capital access to purchase LINK tokens.
- Shares of CWD surged nearly 60% on Thursday as LINK’s price increased by 2.5%.
Caliber, a publicly listed real estate asset management firm, experienced a significant rise in its stock price after disclosing its strategy to adopt a treasury focusing on Chainlink (LINK).
The strategy has been sanctioned by the firm’s board, allowing them to dedicate a segment of their treasury to LINK acquisition, which serves as the backbone of Chainlink’s oracle network, bridging real-world data with blockchain applications. Caliber intends to utilize their balance sheet and current capital access for this purchase, although details on the acquisition amount have not yet been disclosed.
“This strategy integrates what Caliber excels at—raising and managing capital in private equity real estate funds—alongside one of today’s most innovative financial technologies,” stated Caliber CEO Chris Loeffler in an interview with Decrypt.
“Chainlink technology directly relates to our current real estate operations and will enhance our ability to automate real estate value assessments (NAV automation), improve fund administration, and potentially provide enhanced liquidity options for our range of private funds,” he added.
In conjunction with the digital asset treasury initiative, the board has also instituted the creation of the Caliber Crypto Advisory Board—a consortium of crypto and blockchain specialists tasked with advising the firm’s digital asset treasury strategy. Loeffler indicated to Decrypt that further details regarding the board will be disclosed shortly.
The stock for Caliber (CWD) has risen by 59% since Thursday’s market open, currently priced at $2.70. However, the stock has declined nearly 4% over the past month and has seen a drop of 78% in the past year.
When asked why investors might prefer CWD shares instead of purchasing LINK directly, Loeffler responded to Decrypt that “it represents a leverage opportunity.”
“We aim to provide leverage through our ongoing acquisitions and the staking process,” he elaborated. “For investors heavily involved in Chainlink seeking a position in Caliber for a leveraged exposure, this is the perspective to consider.”
However, there may be concerns about its trading eligibility on the Nasdaq. A recent SEC filing reveals that Caliber has received a notice for non-compliance with Nasdaq’s Stockholder Equity Requirement, necessitating a response plan within 45 days to avoid potential delisting.
Currently, Chainlink (LINK) has increased approximately 2.5% within the last 24 hours and has surged more than 41% over the past month.
On Thursday, the Department of Commerce revealed its partnership with Chainlink’s decentralized oracle network to incorporate macroeconomic data into the DeFi ecosystem.
Moreover, the 13th largest cryptocurrency by market capitalization has recently received an ETF filing from Bitwise. Earlier this month, the network’s team announced the establishment of a new Chainlink Reserve funded by its on-chain and off-chain revenues.
Loeffler’s profile on X highlights that he has joined the “LINK Marines,” a fervent group of Chainlink advocates active on social media. He also praised Chainlink’s collaboration with the U.S. government for on-chain economic data.
“The timing couldn’t be more ideal; the federal government is an excellent client for Chainlink,” Loeffler tweeted.
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