Safety Shot Considers Acquiring Up to $115 Million in BONK as Part of New Treasury Strategy
Main Idea
Safety Shot Inc. plans to acquire up to $115 million worth of BONK, a Solana meme coin, as part of its new treasury strategy, despite a 51% drop in its stock price following the announcement.
Key Points
1. Safety Shot Inc. is acquiring up to $115 million in BONK, aiming to hold 4-5% of the total BONK supply by year-end.
2. The company will receive $25 million worth of BONK from its founding contributors as part of the acquisition.
3. Safety Shot's stock price dropped 51% after announcing its pivot to a BONK treasury strategy.
4. BONK has a market cap exceeding $2 billion and is a community-driven meme coin on the Solana blockchain.
5. The move is part of Safety Shot's strategic pivot to adopt BONK as a treasury asset, aiming to solidify its position as an investable asset.
Description
Safety Shot Inc. is acquiring up to $115 million worth of BONK, a Solana meme coin, as part of its strategy to integrate cryptocurrency into its treasury assets. Safety Shot
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