Its already been done.
There is an alloy called Tungstalloy, which we use for fabricating balance weights used on steam turbines.
It is heavy and it is tough, tungsten is also an alloy ingredient that is used in steel, making it very tough and gives it the ability to hold its shape when its red hot.
You could use this for a bullet, but it would have to be machined and I'm pretty sure that it would be armor piercing due to the weight and toughness.
No way would it expand on a living creature its just to tough.
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