Nasdaq-listed Safety Shot Inc. has acquired $25 million worth of BONK tokens from the team behind the meme coin.
They plan to continue purchasing more BONK tokens, aiming to hold up to $115 million worth by the end of 2025. This would represent 4-5% of the total BONK tokens currently in circulation.
The move is part of a strategy led by its advisory firm, Dominari Securities. A key BONK contributor known as "Nom" will also join Safety Shot to help manage transactions on the blockchain.
Safety Shot has adopted a similar strategy to MicroStrategy, which has invested heavily in Bitcoin. Currently, Safety Shot is valued at approximately $83 million, while BONK's total market capitalization exceeds $2 billion.
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