Elon Musk’s Lawyer Prepares $200M Dogecoin Treasury Company

According to Fortune, the venture – backed by House of Doge, a corporate entity launched by the Dogecoin Foundation earlier this year — is pitching investors on a $200 million raise.

The idea is simple: give stock-market investors exposure to DOGE without requiring direct ownership. Investor materials name Spiro, best known for representing Musk, Jay-Z, and Alec Baldwin, as the planned chairman. The structure of the company has yet to be finalized, but the pitch underscores growing momentum behind crypto treasury firms.

Dogecoin Finds Its Way Into Corporate Treasuries

While Bitcoin and Ethereum dominate institutional balance sheets, Dogecoin is carving out its own path. Neptune Digital Assets disclosed in February that it had purchased 1 million DOGE at an average price of $0.37, alongside a 20 BTC acquisition. In July, Nasdaq-listed Bit Origin went further, securing $500 million in financing to build the first U.S.-listed company anchored by a Dogecoin treasury.

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Even Tesla has joined the mix, allowing DOGE payments for select merchandise since 2022 and quietly holding the token on its books. Musk’s influence on the coin remains unmatched — from his 2019 tweet calling DOGE his “fav” cryptocurrency to his infamous Saturday Night Live appearance in 2021, where a joke about Dogecoin being a “hustle” helped trigger a market slide.

Spiro’s Familiar Role

The move into Dogecoin treasuries also connects to Spiro’s legal history. In 2022, Musk was sued by investors who accused him of manipulating DOGE prices. That case was dismissed in late 2024, with Spiro leading Musk’s defense. Now, he’s set to play a more direct role in shaping Dogecoin’s future — not in the courtroom, but in the boardroom.

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