CaliberCos Inc. (CWD), a Nasdaq-listed real estate and digital asset manager, has launched its Digital Asset Treasury (DAT) strategy with an initial purchase of Chainlink (LINK) tokens, marking its first move into the crypto world. The Arizona-based company completed a system test transaction to ensure proper handling of custody, tax, accounting, and governance considerations.
CEO Chris Loeffler stated, "We have made our first purchase to test our systems and ensure we are well-positioned to manage the custody, tax, accounting, governance, and similar considerations underpinning our internal infrastructure." He added, "Each acquisition reinforces our conviction in Chainlink as the infrastructure connecting blockchain with real-world assets."
The company plans to fund LINK acquisitions using a mix of cash reserves, existing credit lines, and equity-based securities, emphasizing a gradual, measured approach to build its treasury position over time. This strategy aims to provide shareholders with transparent, mark-to-market exposure to LINK while positioning CaliberCos at the intersection of traditional real assets and digital assets.
The announcement triggered an explosive market reaction, with CWD stock surging between 850% and 2,500% intraday. Trading volume reached 79.31 million shares compared to the usual daily average of 9.69 million. The stock peaked at $56 before settling at $7.60 by market close.
CaliberCos becomes the first Nasdaq-listed company to publicly adopt a Chainlink-focused treasury policy, governed by a Crypto Advisory Board. This move follows similar crypto-related announcements from other firms, including Eightco's Worldcoin purchase plans.
Despite the rally, CaliberCos faces financial challenges: revenues declined over 40% in 2024 while net losses widened by more than 50%. Wall Street analysts maintain a Hold rating with a consensus price target of $2.50.
LINK traded at $23.39 at the time of the announcement, down 1.18% over 24 hours. The token has recently secured significant partnerships with Intercontinental Exchange (ICE) and the U.S. Department of Commerce, which selected Chainlink to bring macroeconomic data from the Bureau of Economic Analysis onto the blockchain.