Musk Lawyer Alex Spiro Set to Chair $200M Dogecoin Treasury Company

• Dogecoin treasury firm seeks $200M to hold DOGE as a reserve asset with stock exposure.
• Elon Musk’s lawyer Alex Spiro is named chairman of the proposed Dogecoin treasury company.
• House of Doge backs the initiative as firms expand crypto treasury strategies in 2025.

A new Dogecoin treasury company is being pitched to investors with a $200 million fundraising goal. According to six people familiar with the matter, the venture plans to buy and hold Dogecoin as a reserve asset, providing stock market exposure to the token without direct ownership.

Dogecoin Treasury Plans and Backing

Fortune reported that three investors confirmed receiving pitch materials, while three others learned of the initiative through parties involved. The Miami-based Dogecoin entity, House of Doge, is backing the plan, according to three sources familiar with the fundraising.

The project aims to raise $200 million to acquire and hold Dogecoin, offering both institutional and retail investors indirect access to the cryptocurrency. Investor documents indicate the initiative is still in the pitch stage, and details about its structure or timing have not been finalized.

The approach follows strategies used by other firms that accumulate and hold digital assets for long-term value growth. Similar models have been applied by companies investing in Bitcoin and other cryptocurrencies since 2020.

Musk’s Lawyer to Lead the Entity

Investor materials name Alex Spiro, Elon Musk’s personal lawyer, as the planned chairman of the treasury company. Spiro is a partner at Quinn Emanuel and has represented Musk in multiple legal cases, including the 2022 Dogecoin lawsuit dismissed in 2024.

It remains unclear whether Musk is directly involved in the project. Spiro, Musk, and House of Doge have not yet issued official comments regarding the initiative. Still, Spiro’s inclusion as chairman signals a close association with Musk.

The treasury model aligns with a broader corporate trend. Several firms have recently restructured to hold cryptocurrencies as reserve assets. Earlier in 2025, Bit Origin secured $500 million to build a Dogecoin treasury, while Neptune Digital Assets acquired 1 million DOGE through derivatives.