Miami, Florida — A significant new venture is making headlines as a $200 million treasury initiative focused on Dogecoin (DOGE) takes shape. At the forefront of this initiative is Alex Spiro, an attorney known for representing high-profile clients, including Elon Musk. Spiro is set to lead a proposed public company aimed at providing investors with stock-market exposure to Dogecoin without requiring direct ownership of the digital currency.
The initiative is being promoted by House of Doge, a corporate entity established in early 2025 by the Dogecoin Foundation, which operates out of Miami. Details regarding the company’s organizational structure and timelines remain undisclosed, but its goal is to secure at least $200 million in funding. This endeavor comes amid a growing trend where public companies are rebranding to integrate cryptocurrency into their investment strategies, allowing them to hold digital assets on their balance sheets.
House of Doge has endorsed the initiative as the official Dogecoin treasury proposal. This alignment with strategies utilized by other cryptocurrency organizations aims to bolster the legitimacy and market credibility of both Dogecoin and the broader crypto space. Spiro’s involvement is notable given his past legal representation of Musk, particularly in relation to a 2022 lawsuit involving claims of market manipulation associated with Dogecoin, which was dismissed in late 2024.
Since its inception in 2013 as a memecoin, Dogecoin has often been influenced by Musk’s public endorsements. Notably, his support in 2019 and a high-profile appearance on “Saturday Night Live” in 2021 have historically resulted in substantial price fluctuations for the currency. Beyond personal endorsements, Musk has incorporated Dogecoin into his business initiatives, such as naming his government reform proposal the “Department of Government Efficiency (DOGE).”
The surge in corporate interest in digital assets has been remarkable. Data from Architect Partners reveals that more than 184 public companies have disclosed crypto-related purchases since January, collectively acquiring nearly $132 billion in digital currencies. This movement was initiated by MicroStrategy, now rebranded as Strategy, whose CEO, Michael Saylor, began acquiring Bitcoin in 2020. As a result, the company’s stock became synonymous with Bitcoin exposure, peaking at a market valuation of around $96 billion.
Musk’s electric vehicle company, Tesla, has also acknowledged its Dogecoin holdings, although it has not specified the amount. Since 2022, Tesla has accepted DOGE for selected merchandise, underscoring the increasing ties between mainstream businesses and cryptocurrency. Other companies are taking similar steps; for instance, Bit Origin has recently announced a financing plan of up to $500 million aimed at developing a Dogecoin-focused treasury.
As the boundary between traditional finance and the cryptocurrency landscape continues to blur, these developments highlight a growing acceptance of digital assets as integral components of financial strategies. Investors are increasingly viewing cryptocurrencies as not merely speculative vehicles but as legitimate assets capable of enhancing their portfolios.
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