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DOGE Jumps As Elon Musk's Star Lawyer Alex Spiro Set To Chair $200 Million Dogecoin Treasury Firm: Report

The new public company aims to raise $200 million to hold Dogecoin, chaired by Alex Spiro, providing investors exposure without direct ownership and boosting Dogecoin's institutional credibility.

  • Alex Spiro, Elon Musk's attorney, is poised to lead a new publicly traded company that plans to secure a minimum of $200 million in funding to invest primarily in Dogecoin.
  • This initiative follows a 2022 lawsuit accusing Musk of manipulating Dogecoin prices via social media posts, a case Spiro successfully defended before its dismissal in late 2024.
  • The company, supported by House of Doge—a Miami-based organization established earlier in 2025 by the Dogecoin Foundation—is promoting an investment opportunity that provides stock-market access to DOGE without requiring investors to hold the cryptocurrency directly.
  • In February 2025, Neptune Digital Assets announced the purchase of one million Dogecoin tokens at an average cost of $0.37 each, highlighting increasing interest from institutional investors, alongside a broader trend of 184 publicly traded companies buying cryptocurrency totaling nearly $132 billion since the beginning of the year.
  • The initiative to establish a publicly traded entity focused on holding Dogecoin reflects growing interest in crypto treasury firms, which may enhance Dogecoin's credibility and broaden investment opportunities for mainstream investors.
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Fortune broke the news in New York, United States on Friday, August 29, 2025.
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