Elon Musk’s lawyer, Alex Spiro, leads a new Dogecoin treasury firm aiming to raise $200M and legitimize Dogecoin investments.
Elon Musk’s personal attorney, Alex Spiro, is set to chair a new public company focused on Dogecoin investments. According to a report by Fortune, the company plans to raise $200 million to create a Dogecoin treasury vehicle. The House of Doge, a corporate organization that was established by the Dogecoin Foundation to popularize the popular cryptocurrency, supports this new initiative. The announcement has drawn significant attention as Dogecoin news continues to captivate investors and enthusiasts alike.
House of Doge Launches 200M Dogecoin Treasury to Boost Credibility
The Miami-based House of Doge launched in early 2025. It coordinates the development and marketing of Dogecoin, a memecoin. Dogecoin is one of the most famous cryptocurrencies that originated from internet memes. It began as a joke and has since become an easily known commodity, and this constitutes one of the most popular assets, in large part due to the influence of such a figure as Elon Musk. The participation of Musk has had a direct influence on the price of Dogecoin, and a significant portion of investors pays close attention to his social media activity to detect any indications on the future of the token.
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In the new twist, the new 200 million Dogecoin treasury company will specialize in long-term holding of Dogecoin, and it will be among the biggest public holding companies. It is also pitching the company to investors to substantially legitimise the Dogecoin ecosystem.
It is not yet clear what role Elon Musk will have in the new entity, but the inclusion of Alex Spiro has already created expectations. Spiro is the personal lawyer of Musk, who has also worked with other celebrities such as Jay-Z and Alec Baldwin. His position as a leader in the new company is an indication of serious intentions to expand Dogecoin in the market.
Dogecoin Continues to Thrive Despite Legal Challenges and Price Volatility
Currently, the Dogecoin price stands at $0.21707, according to CoinMarketCap. This price has been so volatile that it has been changing frequently in accordance with the social comments made by Musk. The cost of Dogecoin has often soared after his references to the cryptocurrency, be they in tweets or on television, including when he hosted Saturday Night Live in 2021. He has such massive power over the price of Dogecoin that in 2022, some investors have even filed a lawsuit against him, arguing that he was manipulating the market. Nevertheless, Spiro managed to exonerate Musk, which allowed to quash the suit in August 2024.
The relationship between the price fluctuations of Dogecoin and the activities of Musk has made a lot of people wonder whether this influence will last long. Nevertheless, Dogecoin has not lost its popularity, and new ones, such as the $200 million treasury company, bring more impetus. As a matter of fact, other companies have also begun to take similar ways. To illustrate, a Nasdaq-traded company, Bit Origin, recently announced the intention to raise 500 million of dollars to construct a Dogecoin treasury. This showcases the increasing institutional interest to Dogecoin as a long-term asset.
Looking ahead, the focus on Dogecoin whale accumulation has become more pronounced. Since the large investors are purchasing large volumes of Dogecoin, the future of Dogecoin price is increasingly being predicted. Other experts are skeptical, and others can see the possibility of additional growth, particularly when additional companies adopt the path of Tether or Bit Origin.
