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

• Elon Musk’s attorney Alex Spiro is set to chair a planned $200 million Dogecoin treasury vehicle.
• The initiative is backed by House of Doge and will allow public market exposure to DOGE.
• Dogecoin treasury companies are emerging, following a trend of firms raising capital to hold crypto on their balance sheets.

Elon Musk’s longtime attorney, Alex Spiro, is set to chair a new public company that aims to raise $200 million to invest in Dogecoin (DOGE), according to a Fortune report citing people familiar with the deal.

The venture is being pitched to investors as a Dogecoin treasury vehicle, backed by House of Doge—a corporate entity launched in early 2025 by the Dogecoin Foundation and headquartered in Miami. The company’s goal is to provide stock market investors with indirect exposure to Dogecoin by holding the asset on its balance sheet. That way, shareholders gain DOGE exposure without having to directly own the token.

The project is still in its early pitch stage, with no firm details yet on its structure or launch timeline. Investor materials and discussions have already identified Spiro as the planned chairman. A partner at Quinn Emanuel, Spiro has represented high-profile figures including Musk, Jay-Z, and Alec Baldwin.

The emergence of Dogecoin treasury firms marks a growing trend. Earlier this year, Vancouver-based Neptune Digital Assets disclosed it had purchased one million DOGE at an average of $0.37 per token, alongside 20 Bitcoin, expanding its crypto holdings. More recently, Nasdaq-listed Bit Origin announced up to $500 million in financing to build a DOGE treasury—becoming the first U.S.-listed company to make Dogecoin its core balance sheet asset.

Tesla, Musk’s electric car company, has also revealed Dogecoin holdings, though without disclosing size. The firm began accepting DOGE for certain merchandise payments back in 2022.

Musk’s personal history with Dogecoin continues to cast a long shadow over the token. In 2019, he called it “my fav cryptocurrency,” a comment that pushed the coin into headlines. Two years later, his hosting of Saturday Night Live—where he jokingly called Dogecoin a “hustle”—triggered a sharp market sell-off after weeks of hype. His tweets and public remarks have repeatedly moved DOGE’s price, drawing both investor enthusiasm and regulatory scrutiny.

Notably, Spiro was also Musk’s lead counsel in a 2022 lawsuit accusing the billionaire of manipulating the Dogecoin market. That case was dismissed in late 2024. His new role as chairman of a $200 million DOGE treasury would mark another high-profile chapter in Musk’s intertwined history with the memecoin.