Nasdaq-listed Safety Shot has announced the launch of a treasury strategy based on BONK tokens, allocating $25 million to this initiative.
Creation of BONK Treasury Strategy
Safety Shot, the maker of a beverage that rapidly reduces blood alcohol content, has formed a strategic alliance with the founders of the BONK memecoin, securing an initial $25 million in BONK tokens. The company will issue $35 million in preferred shares convertible into common stock in exchange for the tokens.
Trend Towards Memecoin Treasuries
The establishment of a BONK treasury strategy reflects a growing trend among public companies to experiment with memecoin-based assets. In recent months, there has been an acceleration of corporate announcements in this space. For instance, Nasdaq-listed Bit Origin revealed plans for a $500 million DOGE treasury.
Significance for the Company
Safety Shot's CEO Jarrett Boon commented that this partnership represents the first stage of a much broader corporate evolution for the company. Prior to choosing BONK, Safety Shot noted its technical advantages on the Solana blockchain, including high-speed and low-cost transactions.
Safety Shot's shift towards a memecoin treasury strategy highlights the growing interest and market confidence in memecoins as an asset, which may influence future corporate strategies in this area.
