Safety Shot Embraces BONK Amid Altcoin Treasury Boom

- Publicly traded companies increasingly diversify treasuries with altcoins. - Safety Shot (SHOT) adopts BONK, while its stock price tumbles over 50%. On August 11, 2025, Cryptopolitan reported that the NASDAQ-listed firm Safety Shot (SHOT) chose the Solana meme token Bonk (BONK) as its primary treasury asset. In a landmark agreement, the company secured $25 million in BONK tokens in exchange for $35 million in convertible preferred shares. This move highlights the growing trend of corporations adopting altcoins for their treasuries. However, the market reacted unfavorably, and SHOT's stock price plummeted over 50% following the announcement. The drastic drop reflects mixed confidence in this high-risk strategy while also signaling a growing corporate interest in exploring unconventional digital assets like meme tokens. In a related move, Heritage Distilling (CASK) partnered with Story Protocol (IP) and its backers, including venture capital powerhouse Andreessen Horowitz (A16Z), to establish a $340 million treasury. The treasury comprises $100 million in cash and $120 million in Story Protocol's IP tokens, which the company acquired through a private placement. This collaboration illustrates a preference for altcoins that feature decentralized intellectual property utilities as companies seek treasury diversification. Meanwhile, Mill City Ventures (MCVT) expanded its investment in the Sui (SUI) token, committing an additional $20 million to acquire 5.6 million SUI tokens at an average price of $3.56. According to Cryptopolitan on August 11, MCVT’s staking strategy generates approximately $26,000 in daily rewards. Unlike Safety Shot and Heritage Distilling, MCVT’s shareholders welcomed this move, driving the company’s stock price from $1.69 to $5.99 post-announcement. According to an analysis by Cryptopolitan on August 11, over 34 companies, including NASDAQ-listed firms, now hold altcoins in their treasuries. This trend includes established cryptocurrencies like XRP and SOL as well as speculative assets such as meme tokens. Compared to traditional Bitcoin allocations, altcoin treasuries offer benefits like higher staking rewards, which have become a significant motivator for corporate adoption. Market data from Cryptopolitan at 19:15 UTC on August 11 showed several updates. Bonk (BONK) was trading at $0, with its 24-hour trading volume down 6.08%. Story Protocol (IP) was priced at $6.33, marking a 7.74% decline over the last 24 hours. Sui (SUI) traded at $3.71, with its 24-hour volume down 4.55%.