Elon Musk’s Lawyer To Chair $200 Million DOGE Treasury Company
Elon Musk’s longtime lawyer Alex Spiro has been named chairman of a brand new Dogecoin (DOGE) digital asset treasury (DAT) looking for to boost at the least $200 million, in response to a Fortune report on Friday that cited folks aware of the matter.
The initiative, at the moment being pitched to buyers, would create a publicly traded firm designed to build up Dogecoin on its stability sheet. Traders are intently watching whether or not the initiative might act as a catalyst for Dogecoin’s worth appreciation.
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Spiro, a associate at Quinn Emanuel Urquhart & Sullivan, has been recognized in investor supplies because the deliberate chairman of the brand new entity. He has represented Musk in quite a few high-profile circumstances and beforehand labored with superstar purchasers comparable to Jay-Z and Alec Baldwin.
The Doge undertaking, backed by Home of Doge and launched in early 2025, is being marketed as the subsequent main push for mainstream Dogecoin adoption. Whereas aiming to boost $200 million, the Doge treasury has but to reveal particulars about its launch date or technique.
In the meantime, Dogecoin traded at $0.214 on Friday, down 4.8% over the prior 24 hours. That worth represents a decline of roughly 52% from the one-year excessive of $0.446.
Dogecoin has remained range-bound since mid-March, fluctuating between $0.15 and $0.25.
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The rise of token-focused company treasuries has change into one of many largest crypto phenomenon in 2025. A number of Nasdaq-listed companies have rebranded or shifted their enterprise fashions to build up cryptocurrencies comparable to Solana, SUI, Toncoin, and World Liberty Monetary’s WLFI governance token.
Michael Saylor’s MicroStrategy stays essentially the most distinguished DAT, with practically $70 billion in Bitcoin holdings. The mannequin has impressed different corporations to observe go well with.
Dogecoin-specific efforts are starting to emerge. In July 2025, Nasdaq-listed Bit Origin introduced it had secured as much as $500 million in fairness and debt financing to launch a company Dogecoin treasury.
Earlier within the yr, Vancouver-based Neptune Digital Assets acquired 1 million Dogecoin by a strategic spinoff buy at a mean of $0.37 per token, together with 20 Bitcoin to diversify its portfolio.
Nonetheless, the share efficiency of those corporations has up to now remained weak. Bit Origin’s inventory (BTOG) climbed to a peak of $1 on July 18 however had fallen to $0.39 by the shut on August 29.
Neptune Digital Property (ticker NDA) lists on Canada’s TSX Enterprise Alternate, and in addition trades internationally by way of OTC (ticker NPPTF) and Frankfurt’s Xetra alternate (ticker 1NW).
The corporate’s Canadian-listed shares (NDA • CVE) reached a peak of C$2.78 earlier this yr. However since February, the worth fell round 62%.
Quiet ‘Dogefather’ Musk Retains Distance From Doge
Elon Musk, typically referred to by supporters because the “Dogefather,” has lengthy been related to Dogecoin. His public remarks have traditionally moved the token’s worth.
Lately, nevertheless, he has made no vital statements about Dogecoin itself. As a substitute, he continues to stipulate his imaginative and prescient of reworking X into an excellent app with built-in funds.
Traders are watching intently, with many anticipating Dogecoin might play a task in these future plans.
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