Safety Shot Beverage Company shifts to accumulate BONK, targeting $115 million

Safety Shot Inc., a health beverage company, is making a bold move, announcing that it will acquire $25 million worth of token $BONK from the core contributors of this meme coin. The company aims to accumulate up to $115 million worth of BONK by the end of this year, representing about 4-5% of the total supply.

Meme coin accumulation strategy and personnel team

This move makes #SafetyShot , a publicly listed company on NASDAQ, one of the newest public companies to join the cryptocurrency accumulation trend. Nom, one of the core contributors of BONK, will join Safety Shot in a strategic role to support the accumulation of BONK and advise on on-chain activities.

According to Nom, this will help BONK reach traditional investors and funds, reinforcing BONK's position as a potentially investable asset in the future. He also stated that the company will initially focus on purchasing BONK, and only later explore yield-generating methods.

Market reaction and concerns

The trend of companies with business issues turning to cryptocurrency accumulation is not new, similar to SharpLink Gaming with Ethereum. Although these announcements often create an initial buzz, Safety Shot's stock price has dropped by 51% after the announcement, indicating market skepticism about this strategy. Experts also warn that these companies need to have other revenue sources to avoid becoming "forced sellers" in the future. #anhbacong