Dogecoin News Today: Elon Musk’s Lawyer to Lead $200M Dogecoin Treasury Play

The House of Doge , the official corporate entity behind Dogecoin , has secured a plan to establish a $200 million Dogecoin treasury company, with Alex Spiro—Elon Musk’s personal lawyer—set to serve as chairman. According to multiple sources, the initiative is being pitched to investors as a public vehicle backed by House of Doge, which was launched in early 2025 by the Dogecoin Foundation and based in Miami. The company’s primary objective is to hold Dogecoin on its balance sheet, offering stock-market exposure to the token without requiring direct ownership [2].

Investors are reportedly being approached about the opportunity, with the treasury company aiming to raise at least $200 million. Details regarding the structure of the public vehicle or its launch timeline have not yet been disclosed [2]. The initiative aligns with a broader trend in the cryptocurrency market where publicly traded companies have begun to adopt crypto treasury strategies, investing in digital assets as a means of generating returns and attracting new investor interest.

House of Doge has reportedly signed off on the plan as the "official" Dogecoin treasury vehicle, a strategy often used with other cryptocurrency foundations to enhance project legitimacy [2]. This move mirrors similar efforts by companies such as Strategy (formerly MicroStrategy), which began accumulating Bitcoin in 2020 and saw significant gains in both Bitcoin and its stock price. Since then, over 184 publicly traded companies have announced cryptocurrency purchases totaling nearly $132 billion, according to Architect Partners [2].

Dogecoin, a memecoin created in 2013 and based on an internet meme featuring a Shiba Inu dog, has long been associated with Elon Musk, whose public comments have historically influenced its price. Musk has frequently referenced Dogecoin on social media, and his involvement has contributed to periods of significant price volatility. In 2022, Musk faced a lawsuit alleging that he manipulated Dogecoin prices through social media posts. Spiro, who also represents other high-profile clients like Jay-Z and Alec Baldwin, successfully defended Musk in court, leading to the lawsuit’s dismissal in late 2024 [2].

The growing interest in Dogecoin treasury structures has also been reflected in recent corporate actions. For instance, Vancouver-based Neptune Digital Assets acquired 1 million Dogecoin in February 2025, while Nasdaq-listed Bit Origin announced a $500 million financing plan to build its Dogecoin treasury [3]. These developments suggest a strategic shift in how some companies are integrating memecoins into their financial strategies, potentially broadening institutional exposure to the asset class.

While proponents argue that such treasury structures provide traditional investors with a less volatile way to gain exposure to crypto, critics warn of regulatory and ethical concerns, including allegations of insider trading. As the Dogecoin market continues to evolve, the success of this new treasury initiative could influence broader trends in how cryptocurrencies are perceived and integrated into mainstream finance [2].

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