Safety Shot (SHOT) has made a bold move into cryptocurrency by allocating $25 million to BONK (BONK), the fifth-largest memecoin with a market cap of over $2 billion. Last week, the Nasdaq-listed company the creation of a corporate BONK treasury, receiving $25 million in tokens through a strategic alliance with BONK founding contributors, while issuing $35 million in convertible preferred shares as consideration.
This positions Safety Shot among an increasing number of companies adopting altcoin treasury strategies beyond Bitcoin (BTCUSD). Recent corporate moves include Bit Origin (BTOG) arranging $500 million for Dogecoin (DOGEUSD) accumulation and SharpLink Gaming (SBET) disclosing nearly 600,000 in Ethereum (ETHUSD) holdings. Safety Shot CEO Jarrett Boon called it "the first stage of a much broader corporate evolution for our company" and a bold step into digital assets.
