Miami, Florida — A new effort is underway to introduce Dogecoin (DOGE) into the public markets through the creation of a treasury company, with prominent attorney Alex Spiro set to take on the role of chairman. Reports indicate that the initiative aims to raise a minimum of $200 million, allowing investors to gain indirect exposure to the popular cryptocurrency without having to own it directly. The treasury structure represents a distinct avenue for traditional investors to engage with the digital asset via stock market investments.
This venture is backed by the House of Doge, a Miami-based organization established in early 2025 by the Dogecoin Foundation. Tasked with advancing the cryptocurrency, the House of Doge has described this treasury initiative as the “official” vehicle for Dogecoin, a strategy mirroring efforts by other cryptocurrency foundations to increase legitimacy in the financial sphere. Although currently in the initial pitching phase, specific details regarding the company’s structure and anticipated launch remain undisclosed.
The rise of crypto treasuries among publicly traded companies is part of a broader trend. This strategy gained momentum in 2020 when MicroStrategy, now rebranded as Strategy, announced its intention to incorporate Bitcoin into its corporate asset portfolio. Since that pivotal moment, more than 184 public companies have followed suit, collectively investing nearly $132 billion in various cryptocurrencies by January 2025. While such moves provide a unique pathway for traditional investors, they have also sparked concerns regarding potential insider trading and risks associated with corporate governance.
Launched in 2013, Dogecoin has consistently been influenced by market sentiment, significantly driven by the social media presence of figures like Elon Musk. His frequent endorsements and remarks on platforms such as Twitter have led to notable fluctuations in Dogecoin’s market value, particularly after his high-profile mention of the coin during a 2021 appearance on “Saturday Night Live.” Musk’s enthusiasm for Dogecoin even influenced him to name a government efficiency initiative after the meme, dubbing it the Department of Government Efficiency.
Legal challenges surrounding Dogecoin have also surfaced. In 2022, investors filed a lawsuit against Musk, alleging that he manipulated market dynamics through social media posts. Spiro, who represented Musk in the case, successfully defended him, with the lawsuit ultimately dismissed in August 2024. This legal victory not only bolstered Musk’s standing but also lent support to the broader Dogecoin community in navigating a highly volatile marketplace.
As the treasury initiative progresses, it signals a notable intersection between traditional financial practices and the unpredictable world of cryptocurrency. While offering an innovative method for investors to connect with Dogecoin, this development raises essential questions about regulatory surveillance and overall market integrity. With Alex Spiro at the helm, the new entity may usher in a transformative phase regarding how memecoins are embraced within mainstream investment strategies.
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