Elon Musk’s lawyer Alex Spiro is about to chair a brand new public firm that goals to boost $200 million to spend money on Dogecoin, in response to a Fortune report citing six individuals aware of the deal.
The initiative is being pitched to buyers as a Dogecoin (DOGE) treasury car with the endorsement of House of Doge, the company entity launched in early 2025 by the Dogecoin Foundation and headquartered in Miami, Fortune reported Friday.
The firm seeks to boost at the very least $200 million as a public car to carry Dogecoin on its steadiness sheet, giving buyers stock-market publicity to the token with out direct possession.
The effort stays on the pitch stage, with particulars on its construction or launch timing not but disclosed.
Spiro, a Quinn Emanuel Urquhart and Sullivan accomplice who has represented high-profile shoppers together with Elon Musk, Jay-Z and Alec Baldwin, has been named in investor supplies and conversations because the deliberate chairman of the entity.
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Dogecoin treasury corporations are rising
This yr has seen a surge of publicly traded corporations rebranding as crypto treasury corporations, elevating funds to purchase and maintain digital belongings on their steadiness sheets. While Dogecoin (DOGE), a memecoin created in 2013, is much much less extensively adopted than Bitcoin (BTC) or Ether (ETH), it has drawn a couple of devoted backers.
In February 2025, Vancouver-based Neptune Digital Assets disclosed the acquisition of 1 million Dogecoin through a strategic spinoff buy at a median worth of $0.37 per token, including to its rising crypto holdings. It additionally purchased 20 Bitcoin, reinforcing its diversified asset technique.
In July, the Nasdaq-listed firm Bit Origin introduced it had secured as much as $500 million in debt and fairness financing to construct its DOGE treasury. The transfer made it the primary US-traded firm to overtly plan for Dogecoin to be its core steadiness sheet asset.
Musk’s electrical automotive firm, Tesla, has additionally disclosed Dogecoin holdings, although it has by no means specified its place dimension. The agency started accepting DOGE for choose merchandise purchases in early 2022.
Musk has a lengthy historical past with Dogecoin. In 2019, he posted that Dogecoin “could be my fav cryptocurrency,” a comment that pushed the token into the headlines.
In May 2021, Musk hosted Saturday Night Live and jokingly referred to as Dogecoin a “hustle,” sending the worth sharply decrease after weeks of hype that had helped drive the coin to an all-time excessive.
His posts concerning the memecoin have been market-moving occasions, inflicting buyers and regulators to scrutinize his affect.
In 2022, he was sued by buyers who alleged he manipulated the Dogecoin market. That case was dismissed in late 2024, with Alex Spiro main the protection.
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