tl;dr
Safety Shot, Inc. transforms into Bonk, Inc., doubling down on its BONK crypto stake while its stock surges 38% after the rebrand announcement.
**Bonk, Inc. Rebrands from Safety Shot, Inc. to Expand Digital Asset Ambitions**
In a bold move signaling its shift toward the digital asset space, Safety Shot, Inc.—a beverages company with a unique twist—has announced its rebranding to **Bonk, Inc.** The transformation, set to take effect on Friday, will see the firm adopt the ticker symbol **BNKK** as it aims to “evolve” its strategy and “sell off any unnecessary assets.” The rebrand underscores the company’s growing focus on cryptocurrency, particularly its stake in the Solana-based meme coin **BONK**.
### A Strategic Shift Toward Digital Assets
Bonk, Inc. revealed it has increased its holdings of BONK to **2.7% of the circulating supply**, valued at approximately **$43 million**, according to the BonkDat dashboard. The company plans to accumulate **5% of BONK’s circulating supply by year-end**, a target it describes as a “clear milestone” in building a “premier public vehicle” for the Bonk ecosystem.
Mitchell Rudy, a board member and core contributor to BONK (known online as “Nom”), emphasized the shift: “The focus is shifting into the digital asset space, to be a public company working not just on collecting the asset but also on consolidating various Bonk projects and revenue streams into a single, publicly investable entity.”
### Stock Performance and Market Position
Despite the rebranding announcement, the company’s stock still trades under the **SHOT** ticker on platforms like Yahoo Finance. Over the past five days, shares have surged nearly **38%**, though they’ve dipped **over 3%** in the last month.
Bonk, Inc. joins a growing list of digital asset treasury companies, including **Michael Saylor’s MicroStrategy**, which holds over **$77 billion in Bitcoin**, and **SharpLink**, an Ethereum-focused firm leveraging staking for yield. However, Bonk, Inc. faces unique challenges: BONK lacks a native staking feature, prompting the company to explore alternative yield strategies.
“We are exploring a number of different options around yield,” Rudy said. “The goal remains accumulating more BONK, so the idea of covered calls, etc., doesn’t make sense—we’re not looking to exit the token.”
### The Rise of BONK: From Meme Coin to Ecosystem Powerhouse
BONK, a Solana meme coin, emerged in the aftermath of the **FTX collapse**, which heavily impacted Solana due to Sam Bankman-Fried’s vocal support for the network. The token was airdropped to Solana builders and community members, helping restore confidence in the ecosystem. Early adopters who held BONK saw significant gains, and the coin has since evolved beyond its meme origins.
Today, BONK powers critical tools for Solana, including a trading bot and an automatic market maker. Bonk, Inc. has already invested in this ecosystem by acquiring a **10% revenue share in LetsBonk**, a meme coin launchpad that once dominated Solana’s token creation scene.
### Capitalizing on Seasonal Trends
Rudy highlighted the Bonk ecosystem’s historical strength in the **fourth quarter**, stating the company is “strategically positioning our treasury to capitalize on that.” With BONK currently valued at a **$1.46 billion market cap** (the 96th-largest cryptocurrency overall and third-largest Solana meme coin), Bonk, Inc. aims to leverage its growing stake to drive long-term value for shareholders.
### Looking Ahead
As Bonk, Inc. transitions from a beverages company to a digital asset-focused entity, its success will hinge on its ability to navigate the volatile crypto market while solidifying its role in the Solana ecosystem. With a clear roadmap to increase BONK holdings and invest in key projects, the rebrand marks a pivotal moment for both the company and the broader meme coin landscape.
For now, the market will be watching closely as Bonk, Inc. endeavors to turn a meme into a multi-billion-dollar legacy.