Alex Spiro to Chair New Public Company for $200M Dogecoin Treasury

A significant development is emerging in the digital asset landscape as Alex Spiro, the prominent attorney known for representing high-profile figures including Elon Musk, is slated to chair a new public company. This entity aims to raise $200 million for a Dogecoin-backed treasury. Championed by the Dogecoin Foundation's Miami-based entity, House of Doge, this initiative signifies increasing institutional interest in meme coins and innovative approaches to cryptocurrency investment, providing a structured pathway for public market exposure to Dogecoin without requiring direct ownership.

Alex Spiro, attorney for Elon Musk, will chair a new public company.
The company aims to raise $200 million for a Dogecoin-backed treasury.
This initiative is spearheaded by the Dogecoin Foundation's House of Doge entity.
It offers a structured pathway for public market exposure to Dogecoin.
The venture reflects growing institutional interest in meme coins.
It aligns with a broader trend of corporate digital asset integration into treasuries.

The Role of Alex Spiro and Elon Musk

Spiro's involvement lends considerable gravitas to this venture, particularly given his past representation of Elon Musk. Musk has consistently been a pivotal, though often controversial, figure in Dogecoin's trajectory, with his public statements frequently impacting the token's market valuation. His remarks, ranging from declaring it his "favorite cryptocurrency" in 2019 to his "hustle" comment on Saturday Night Live in 2021, often triggered volatile price swings. Notably, Spiro defended Musk in a 2022 market manipulation lawsuit concerning Dogecoin, which was dismissed in 2024. Despite this historical connection, the precise extent of Musk's direct involvement with the new treasury firm remains unconfirmed.

Strategic Vision of the Dogecoin Treasury Firm

The firm's primary objective is to establish itself as a publicly traded entity, holding Dogecoin or its derivatives directly on its balance sheet. This strategy enables investors to gain exposure to Dogecoin through traditional stock markets, thereby circumventing the complexities associated with direct cryptocurrency custody. Dogecoin, widely recognized as the pioneering meme coin, is characterized by a lack of inherent utility, its value primarily derived from its vibrant online community and cultural resonance. Consequently, the proposed treasury platform signifies an innovative endeavor to formalize and capitalize on this distinct market dynamic.

Broader Corporate Adoption of Digital Assets

This initiative aligns with a broader trend among public companies integrating digital assets into their corporate treasuries. This strategy gained substantial traction following MicroStrategy's pioneering adoption of Bitcoin in 2020. Under Michael Saylor's leadership, the company, now known simply as Strategy, experienced a significant surge in market value, thus catalyzing other corporations to explore similar financial strategies. This shift highlights a maturing perspective on cryptocurrencies, viewing them as legitimate treasury assets rather than mere speculative novelties.

Pioneering Examples of Dogecoin Integration

Recent examples further underscore this trend: Neptune Digital Assets, in February 2025, announced the acquisition of 1 million Dogecoin through derivatives at an average cost of $0.37 per token, complementing this with a 20 Bitcoin allocation to diversify its portfolio. Concurrently, Nasdaq-listed Bit Origin disclosed plans in July to secure up to $500 million in debt and equity funding for its own Dogecoin treasury. This move positions Bit Origin as the first U.S.-based company to officially designate Dogecoin as a core holding, according to a regulatory filing (Form 6-K). Tesla, another prominent corporation, has also confirmed its holdings of Dogecoin and began accepting the cryptocurrency for select merchandise in early 2022. Data from Architect Partners indicates that 184 public firms have collectively revealed crypto purchases totaling nearly $132 billion since the beginning of the year, encompassing assets from Bitcoin and Ethereum to Solana and WLFI, the Trump family’s cryptocurrency. These collective developments signify a growing mainstream acceptance and strategic integration of digital assets within the broader landscape of corporate finance.