safety Shot Introduces BONK Treasury Strategy, Boosting Memecoin Investment trend
Nasdaq-listed safety Shot is diving into the world of memecoin investments. The company plans to launch a BONK treasury strategy using an initial investment of $25 million in BONK tokens. This move follows similar initiatives by Bit Origin and Everything Blockchain.
Safety Shot aims to issue $35 million in convertible preferred shares in exchange for BONK tokens. The choice of BONK over other memecoins stems from its benefits on the Solana blockchain, such as speed and low transaction costs. Additionally, BONK features a “burn” mechanism that helps boost its value by reducing token supply.
Jarrett Boon, CEO of Safety Shot, sees this partnership as a stepping stone for the company’s future growth. “We’re laying the groundwork for bigger things,” he stated.
The trend of companies forming memecoin treasuries is on the rise. In July, Bit Origin unveiled plans for a $500 million DOGE treasury, calling themselves the “MicroStrategy of DOGE.” Likewise, Everything Blockchain Inc.’s MemeStrategy spin-off focuses on managing various memecoins like PEPE and SPX6900.
These developments signal a shift in how public companies view and utilize memecoins, possibly solidifying their place in mainstream finance.
