Alex Spiro, attorney for Elon Musk, is set to chair a planned $200 million Dogecoin treasury company, according to a Fortune report citing six people familiar with the deal.
The Dogecoin Foundation created House of Doge in early 2025. It backs the proposed treasury vehicle and operates from Miami, driving new corporate initiatives around Dogecoin.
Investor materials describe the company as a public vehicle to raise $200 million and hold Dogecoin on its balance sheet. The plan would give investors exposure to Dogecoin through stock ownership rather than direct token holdings.
House of Doge Role in the Treasury Initiative
House of Doge has endorsed the creation of the Dogecoin treasury company. Formed in early 2025, the entity reflects efforts by the Dogecoin Foundation to establish institutional backing for the memecoin.
The company mirrors Bitcoin treasury models but applies them to Dogecoin, launched in 2013. It focuses on corporate treasury-style investment in Dogecoin instead of individual ownership.
The Dogecoin treasury plan has not disclosed details such as launch date and structure. Investor discussions mention only the $200 million fundraising goal.
Alex Spiro’s Role and Background
Alex Spiro, a partner at Quinn Emanuel Urquhart & Sullivan, has represented clients such as Elon Musk, Jay-Z, and Alec Baldwin.
Spiro’s name appears in investor materials as the designated chairman of the proposed Dogecoin treasury company. His role connects the treasury plan directly to Musk’s legal circle, though Musk himself is not named in the effort.
In late 2024, Spiro led Musk’s defense in a lawsuit filed by investors who accused Mus
k of manipulating the Dogecoin market. The case was dismissed, closing a two-year legal dispute that began in 2022.
Surge of Dogecoin Treasury Companies in 2025
The year 2025 has seen more firms creating Dogecoin treasury companies. These entities raise funds to purchase Dogecoin and record it as a balance sheet asset.
In February 2025, Neptune Digital Assets, based in Vancouver, reported acquiring 1 million Dogecoin at an average price of $0.37 per token through a derivative purchase. The company also bought 20 Bitcoin to diversify its digital holdings.
In July 2025, Nasdaq-listed Bit Origin announced financing of up to $500 million in debt and equity. The company said it planned to build a treasury with Dogecoin as its primary asset, making it the first U.S.-traded firm to openly pursue such a strategy.
Tesla’s Link to Dogecoin Holdings
Tesla, the electric car company led by Elon Musk, has disclosed Dogecoin holdings but has not revealed amounts. Since 2022, Tesla has accepted Dogecoin for selected merchandise purchases, further connecting the token with Musk’s businesses.
Musk has long been associated with Dogecoin. In 2019, he stated on X that Dogecoin “might be my fav cryptocurrency.” His comments have repeatedly influenced Dogecoin’s price movements.
In May 2021, Musk hosted Saturday Night Live and called Dogecoin a “hustle,” a remark that triggered a sharp decline after weeks of price gains. The event highlighted Musk’s impact on the Dogecoin market.
