Elon Musk’s Lawyer to Chair $200M Public Dogecoin Treasury Vehicle

A new public company aiming to hold Dogecoin on its balance sheet is in the works and Elon Musk’s personal attorney, Alex Spiro, is set to lead it.

According to a report from Fortune, Spiro is being pitched as the planned chairman of a corporate vehicle that would give stock-market investors indirect exposure to Dogecoin. The initiative seeks to raise at least $200 million and has the endorsement of House of Doge, the official entity behind Dogecoin, founded in early 2025 and based in Miami.

The pitch is still in its early stages. Launch details and final structure have not been disclosed.

The Goal: Dogecoin, But Public

The company will act as a Dogecoin treasury, mirroring strategies pioneered by Bitcoin-focused entities like MicroStrategy. But unlike MicroStrategy, which holds over 600,000 BTC, this new venture is expected to focus exclusively on DOGE.

Backers say the effort will allow institutional and retail investors to gain exposure to Dogecoin through a regulated equity vehicle, without directly holding or custodying the memecoin.

Sources say the House of Doge has approved the initiative as Dogecoin’s “official” treasury partner. That mirrors how some other token foundations have backed corporate treasury plays to increase legitimacy and market acceptance.

A Trend of Treasury Companies

This move adds to a growing trend in 2025: publicly listed firms pivoting to crypto treasury strategies.

• In February, Neptune Digital Assets acquired 1 million DOGE via derivatives, adding to its diversified portfolio.
• In July, Bit Origin revealed plans to raise up to $500 million for a Dogecoin treasury, becoming the first U.S.-listed firm to center its balance sheet on DOGE.

Even Tesla, Musk’s electric vehicle company, holds Dogecoin and began accepting it for merchandise in 2022. However, the size of its holdings has never been disclosed.

Musk’s Ongoing Ties to Dogecoin

Elon Musk’s connection to Dogecoin is well documented. He has repeatedly praised the asset, once calling it his “fav cryptocurrency” in 2019.

His influence over Dogecoin markets is significant. In 2021, he appeared on Saturday Night Live and jokingly called Dogecoin a “hustle.” The token’s price tanked shortly afterward, despite weeks of build-up that had pushed DOGE to its all-time high.

In 2022, Musk faced a lawsuit accusing him of manipulating Dogecoin’s price through social media posts. Spiro successfully defended Musk, and the case was dismissed in 2024.

The billionaire’s connection to the token runs deep. He even named one of his government reform ideas after it – DOGE, short for Department of Government Efficiency.