Traditional Beverage Company Safety Shot Enters Crypto with $25M BONK Treasury Strategy

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.