Elon Musk's attorney, Alex Spiro, is making a move into the world of cryptocurrency. He is set to become the chairman of a new public company that will hold Dogecoin as its primary asset. The venture, supported by the Dogecoin Foundation's corporate entity House of Doge, is looking to raise $200 million from investors.
The company's goal is to offer stock-market investors exposure to Dogecoin without requiring them to own the cryptocurrency directly. This initiative highlights the growing trend of crypto treasury firms and the increasing interest in holding Dogecoin as a corporate asset.
While Bitcoin and Ethereum are more commonly held by institutions, other companies are also adding Dogecoin to their balance sheets. For example, Neptune Digital Assets and Bit Origin have both acquired significant amounts of Dogecoin. Tesla also accepts DOGE for certain merchandise and holds some of the token on its books. Musk has a long history of influencing the coin's price through his public statements and actions.
Spiro's new role is a direct extension of his previous work defending Musk against a 2022 lawsuit. The suit accused Musk of manipulating Dogecoin's price, and Spiro successfully had the case dismissed in late 2024. Now, instead of defending the token in court, Spiro will be helping to steer its future from the boardroom.
August 2025, Cryptoniteuae