Musk lawyer will lead Dogecoin treasury company with USD $ 200 million

By Hannah Pérez

Alex Spiro, Musk’s personal lawyer, who also represents other high-profile figures such as Jay-Z and Alec Baldwin, will preside over a new company that plans investment of USD $ 200 million in Doge.

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• A new company is interested in Dogecoin for its treasury, with initial investment of USD $ 200 million.
• Alex Spiro, Musk’s personal lawyer, prepares to assume the presidency of that new entity.
• It is unknown if Musk itself will have any relationship with the project.
• It is part of the broader trend of companies to integrate cryptocurrencies into their reserves.

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Elon Musk’s personal lawyer, Alex Spiro, prepares to assume the position of president in a new public company aimed at investing in Dogecoinwith plans to raise at least 200 million dollars initially, according to Fortune.

According to the publication, which cites familiar sources with the project, the company will operate as a digital treasury vehicle for Dogecoin (DAT, for its acronym in English) and has received the support of House of Dogethe official corporate entity behind the cryptocurrency, created in early 2025 by the Dogecoin Foundation and based in Miami.

This initiative represents another step in the growing wave of companies that seek to accumulate cryptocurrencies in their balances, attracting traditional investors to the world of Memecoins.

Elon Musk and his support for Dogecoin

Sources indicate that the project is in the presentation phase to investors, and that details have not yet been revealed about their exact structure or the launch date. Spiro, Firm Partner Quinn Emanuel Urquhart & Sullivanis known for representing outstanding figures such as Musk, Jay-Z and Alec Baldwin, and their involvement could enhance the legitimacy of entrepreneurship.

Dogecoinlaunched in 2013 as a joke inspired by a meme of a dog Shiba Inu, has evolved to become one of the most popular cryptocurrencies, with a market capitalization that is around USD $ 32,000 million.

The value of the Memecoin He has been closely linked to the public statements of Musk, who has promoted his adoption through mentions in social networks and media appearances. In November 2024, after the resolution of a demand against Musk for alleged manipulation of the market of DogecoinSpiro declared: “It’s a very good day for Dogecoin“

The role of Musk in this new entity has not been clarified, and neither his team nor representatives of House of Doge have responded to requests for comments. However, the billionaire has shown a sustained interest in the Memecoineven appointing its initiative to reduce government spending as a Department of Government Efficiency (Doge).

Doge also enters crypto treasury

The announcement occurs in the middle of a context where treasury strategies with cryptocurrencies have become a trend this year, as companies around the world seek to replicate the pioneering model of Strategythe biggest corporate holder of Bitcoin.

According to data from Bitcoin Treasuriesabout 180 public companies worldwide currently have some type of treasury Bitcoin. Meanwhile, others have chosen to diversify towards other crypts, including Ethereum, Solana, XRP And even Dogecoin. Bit Origin, List in Nasdaq, and Neptune Digital Assetsbased in Vancouver, there are two that have adopted Doge for their treasury

This model has allowed traditional investors indirectly accessing digital assets through stock -listed shares. Grayscalefor its part, it is promoting the creation of a quoted fund in the stock market (ETF) that follows the price of Dogecoinwhich could further expand its institutional attraction.

Meanwhile, the price of Dogecoin He experienced a 4% drop in the last hours, reflecting the inherent volatility of the Memecoins market. Its price is USD $ 0.213 at the time of closing this edition, according to Coingcko.

This development underlines how cryptocurrencies, originally seen as recreational experiments, are increasingly attracting institutional players and influential figures, potentially promoting greater adoption in the traditional financial sector.

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