Nasdaq-listed company Safety Shot, Inc. has formed a new subsidiary named BONK Holdings LLC to manage its digital asset strategy focused exclusively on the Bonk (BONK) meme coin. The subsidiary has aggressively accumulated a total of 228.9 billion BONK tokens at an average purchase price of $0.00002184 per token.
This acquisition, which includes a recent $5 million purchase executed in partnership with digital asset prime brokerage FalconX, brings Safety Shot's total BONK holdings to over 2.5% of the token's circulating supply. At current market prices, these holdings are valued at approximately $55 million.
CEO Jarrett Boon stated: "We are aggressively accumulating a significant position in what we believe is a top-tier digital asset. The fact that our current digital and cash assets alone are valued above our entire market cap highlights the tremendous and currently unrecognized value of our Sure Shot and Yerbaé brands."
The company plans to actively utilize its BONK treasury within Solana's DeFi ecosystem through staking, liquidity provision, and yield farming to generate additional, non-dilutive returns. This strategic move follows Safety Shot's recent $30 million investment in late August and the appointment of Mitchell Rudy, a core founder of BONK, to its Board of Directors.
Despite these developments, Safety Shot's stock (SHOT) fell to $0.37 yesterday, its lowest level in two months, closing at $0.39, down 0.74% on the day. Meanwhile, BONK has continued its positive trend with a 26.4% increase over the past week and was trading at $0.0000250 at the time of reporting, up 7% over 24 hours.