Elon Musk’s legal professional Alex Spiro is about to chair a brand new public company that goals to increase $200 million to put money into Dogecoin, in accordance to a Fortune report citing six folks conversant in the deal.
The initiative is being pitched to traders as a Dogecoin (DOGE) treasury automobile with the endorsement of Home of Doge, the company entity launched in early 2025 by the Dogecoin Basis and headquartered in Miami, Fortune reported Friday.
The company seeks to increase at the least $200 million as a public automobile to maintain Dogecoin on its stability sheet, giving traders stock-market publicity to the token with out direct possession.
The hassle stays on the pitch stage, with particulars on its construction or launch timing not but disclosed.
Spiro, a Quinn Emanuel Urquhart and Sullivan companion 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 firms are rising
This 12 months has seen a surge of publicly traded firms rebranding as crypto treasury companies, elevating funds to purchase and maintain digital property on their stability sheets. Whereas Dogecoin (DOGE), a memecoin created in 2013, is much much less extensively adopted than Bitcoin (BTC) or Ether (ETH), it has drawn a number of devoted backers.
In February 2025, Vancouver-based Neptune Digital Property disclosed the acquisition of 1 million Dogecoin by way of a strategic spinoff buy at a median value 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 company Bit Origin introduced it had secured up to $500 million in debt and equity financing to construct its DOGE treasury. The transfer made it the primary US-traded company to brazenly plan for Dogecoin to be its core stability sheet asset.
Musk’s electrical automobile company, Tesla, has additionally disclosed Dogecoin holdings, although it has by no means specified its place dimension. The agency started accepting DOGE for select merchandise purchases in early 2022.
Musk has a long history with Dogecoin. In 2019, he posted that Dogecoin “is likely to be my fav cryptocurrency,” a comment that pushed the token into the headlines.
In Might 2021, Musk hosted Saturday Evening Reside and jokingly called Dogecoin a “hustle,” sending the value 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 traders and regulators to scrutinize his affect.
In 2022, he was sued by traders who alleged he manipulated the Dogecoin market. That case was dismissed in late 2024, with Alex Spiro main the protection.
