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An increasing number of asset managers are adopting cryptocurrencies as treasury reserves. Nasdaq-listed Caliber is the latest to join this trend, having recently announced the formal approval of its new Digital Asset Treasury (DAT) Strategy, which features decentralized oracle provider Chainlink (LINK) at its core.
LINK Tokens As Reserve Assets
The announcement came from Caliber’s Board of Directors, which outlined its intention to not only purchase LINK tokens but also engage in activities aimed at maximizing returns from these digital assets.
With a focus on the token’s long-term appreciation potential, the real state-focused asset manager plans to hold the cryptocurrency as part of its equity portfolio and generate yield through staking, further diversifying its investment strategy.
To support the implementation of this digital asset approach, Caliber has established the Caliber Crypto Advisory Board (CCAB). This dedicated advisory group, composed of experts in digital assets and blockchain technology, will provide guidance on the DAT Strategy and Policy..
The DAT Policy itself outlines a framework for the acquisition, custody, and management of digital assets, including specific protocols for security and internal controls.
The Board believes that adopting this strategy will not only enhance shareholder value but also strengthen the company’s balance sheet and improve liquidity. By holding LINK as a reserve asset.
Additionally, the integration of Chainlink’s technology is expected to streamline key business processes, such as asset valuation and fund administration, further benefiting the company.
Chainlink’s Partnership With US Commerce Department
Chris Loeffler, Chief Executive Officer of Caliber, emphasized the importance of this strategic move, stating, “We believe that implementing a digital asset treasury strategy strengthens our balance sheet and aligns Caliber with the future of digital finance.”
He noted that this initiative positions Caliber at the forefront of innovation in the real estate and investment management sectors, reinforcing its commitment to becoming a “diversified alternative asset manager.”
To ensure the responsible execution of this strategy, the asset manager said it has collaborated with a team of experts, including legal advisors from Perkins Coie and Manatt, Phelps & Phillips, as well as its existing audit firm, Deloitte.
Caliber’s announcement precedes a significant breakthrough for the Chainlink network, which recently partnered with the US Commerce Department to bring critical macroeconomic data on-chain.
The 1D chart shows LINK’s price volatility witnessed over the past week. Source: LINKUSDT on TradingView.com
NewsBTC reported earlier today that following the disclosure of the partnership, LINK’s price experienced a notable surge, reaching approximately $25, reflecting a 6% increase. As of this writing, the Chainlink’s price has dropped toward $24.86, losing earlier gains to a 1.8% increase now recorded in the 24-hour time frame.
Featured image from DALL-E, chart from TradingView.com
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