Solana News Today: Safety Shot Shifts to BONK Treasury Amid $115M Accumulation Push

Safety Shot Inc., a publicly traded wellness company listed on NASDAQ under the ticker SHOT, announced a major strategic shift to become a BONK treasury firm following a $25 million allocation of the Solana-based meme coin from its founding contributors [1]. The company aims to accumulate up to 5% of the total BONK supply by year-end, which would equate to approximately $115 million in value at current prices [1]. This marks the latest in a growing trend of traditional companies pivoting to crypto treasuries, inspired by the success of firms like MicroStrategy with Bitcoin and SharpLink Gaming with Ethereum [1].

The initiative involves pseudonymous core BONK contributor “Nom,” who will join Safety Shot in a strategic advisory role to guide the acquisition and on-chain operations [1]. The arrangement is part of a broader effort to institutionalize exposure to BONK within traditional financial frameworks and enhance its legitimacy as an investable asset [1]. According to Nom, this move is also a step toward diversifying BONK’s ownership base and establishing regulatory clarity, which has been a challenge for meme coins historically [1].

Safety Shot’s transformation was advised by Dominari Securities, a firm previously involved in a Tron-based treasury project [1]. The company’s stock, which has lost nearly 92% of its value from its 2021 peak, has faced declining performance, prompting the pivot into crypto [1]. While the BONK acquisition is seen as a strategic lifeline, the stock fell another 51% following the announcement, raising concerns about market reception and execution risks [1].

The trend of traditional companies acquiring meme coins reflects broader uncertainty in traditional markets, as well as the speculative appeal of crypto assets. BONK, launched as a community-driven project in the aftermath of the FTX collapse, has gained traction as a deflationary asset with strong on-chain activity [1]. It now commands a market capitalization exceeding $2 billion, far outpacing Safety Shot’s $82.7 million valuation [1].

Analysts suggest that the BONK treasury strategy aims to stabilize the token’s value and improve governance, potentially setting a precedent for other meme coins [2]. However, given the volatile nature of the market and the speculative nature of meme tokens, the long-term success of the initiative will depend on continued community participation and macroeconomic conditions [2]. At this stage, Safety Shot is focusing on accumulation rather than yield generation, with future plans to explore revenue-generating avenues once a significant stake is secured [1].

The move has drawn comparisons to other high-profile treasury plays, though the BONK model diverges by emphasizing community integration and token supply management [1]. As the crypto space continues to evolve, the performance of Safety Shot’s BONK treasury will be closely watched by investors and industry observers alike [1].

Source:

[1] BONK Treasury Targets $115M in Solana Meme Coin by Year-End (https://decrypt.co/334518/bonk-treasury-targets-115m-solana-meme-coin-year-end)

[2] ION Price Prediction Chart for 2025 and Beyond (https://www.bitget.com/price/ion/price-prediction)

[2] Press Releases (https://www.quiverquant.com/news/category/press_release_summary)