Safety Shot Inc.healthy drink companies are set to receive what's worth $25 million Bonk From the founding contributors of Solana Meme coin. By the end of the year, the company aims to acquire a Solana Meme Coin worth up to $115 million.
This is the latest in a long line of public companies that are pivoting to create cryptocurrency that starts first Bitcoin And recently, it has expanded to Industry fringe.
The Wellness Company, which traded on the Nasdaq under the ticker shot, beat 92% to just $0.6883, from its all-time high of $8.88 in early 2021. TradingView. Currently, the market capitalization is $82.7 million. In comparison, Bonk's market capitalization is over $2 billion.
The move will “deeply integrate” Bonk's founding contributors into Safety Shot Company. This includes core contributors of the pseudonym nomYou will not only be able to participate in safety shots with strategic capabilities to help the Bonk accumulate, but will also advise on how to operate on-chain. The exact details of this arrangement will be announced.
“Since Bonk's initial airdrop, there has been no funding or accessible way to 'invest' in Bonk without holding a large number of investors, traditional companies, or native tokens,” Nom said. Decryption. “This is a way to keep many people touching bonk with traditional accounts. It serves as a further step to being approved within an accepted regulatory framework, solidifying the diverse set of ownership of the token and serving as a fundamental part of Bonk as an investable asset for the future.”
After FTX collapsed in November 2022, Solana Public support for Sam Bankman-Fried's blockchain. Among the wreckage, the group said “Bonk”Community Coin“We repeated the Air Force to Solana developers and members of the community during Christmas. Many people believe Helped to save Solana From what appears to be a particular death.
Safety Shot has decided to pivot to become the Bonk Treasury Company thanks to exclusive financial advisor Dominari Securities, LLC, Nom said Decryption. I also control securities help me With the formation of a Tron Treasury Company. Nom added that Bonk Treasury Company was working on the “moon,” adding that Monday's $25 million announcement was just the first step.
Trends in finance companies continue to succeed strategythe previous MicroStrategy began purchasing Bitcoin in 2020. Previously, it was a mid-way business intelligence software company, but has since continued to acquire BTC.
Seeing this success, several failed companies have adopted cryptocurrency strategies.
Most notably, Sharplink Games It was approaching delisting before raising $425 million to buy Ethereum Consensy CEO and co-founder of Ethereum, Joseph Rubin, has been brought to the board. Its stock, SBET, announced that its stock, surged more than 4,340% from $2.79 to $124.12, but then fell 79% in the next few months to $25.70. TradingView.
(Disclosure: Consensys is one of 22 editorially independent decryption investors.)
Orgasm For Ethereum finance companies, you can use ETH to generate yields and trust a group of experts to get the best yield may be worth the premium you pay. But Nom said that at least initially, it is not the case with the Bonk Treasury Ministry of Safety Shot.
At this stage, the company explained that it is focusing on obtaining a supply of around 4% to 5% by the end of the year. At today's prices, it would be a Bonk worth up to $115 million.
“There was a huge success like strategy (Bitmine) Nom “is an inspiration for many of these companies,” Nom said. “But as we go further down our asset list, we need to ensure that the quality is as high as possible and that these companies are not becoming forced sellers in the future.”
As such, Safety Shot is expected to announce new revenue generation channels for the future. And it will need it as the stock has Tank 51% Value after the announcement.
