Traditional Beverage Company Safety Shot Enters Crypto with $25M BONK Treasury Strategy
Main Idea
Traditional beverage company Safety Shot enters the cryptocurrency market with a $25M BONK treasury strategy, aligning with Wall Street's growing adoption of memecoins through ETF filings and partnerships.
Key Points
1. Safety Shot has formed a strategic partnership with BONK founding contributors, allocating $25M in BONK tokens as part of a treasury initiative.
2. The company plans to issue $35M in Preferred Shares convertible into common stock, while maintaining over $15M in cash reserves.
3. Safety Shot chose BONK due to Solana's technical benefits, such as fast transaction speeds and low costs.
4. The company's stock (SHOT) has declined 93.65% from its peak but may see gains if the BONK treasury strategy succeeds, similar to BitMine Immersion's performance with Ethereum.
5. Wall Street's embrace of memecoins includes other initiatives like Bit Origin's $500M DOGE treasury and ETF filings for Dogecoin and other meme coins.
Description
Safety Shot, the company behind Yerbaé’s plant-based beverage designed to reduce blood alcohol content, has made its debut in the crypto market through a strategic partnership with BONK founding contributors. The collaboration includes an initial allocation of $25 million in BONK tokens as part of a comprehensive BONK treasury initiative. $BONK contributor @TheOnlyNom announces first stage of $BONK ( @bonk_inu ) Digital Asset Treasury with SafetyShotINC, establishing an initial $25M $BONK reserv...
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