Elon Musk's Attorney Sets Up $200 Million Dogecoin Treasury Firm

Dogecoin Treasury Initiative

• Investment Pitch: House of Doge, backed by the Dogecoin Foundation, is seeking to raise $200 million to provide stock-market investors with exposure to Dogecoin (DOGE) without requiring direct ownership.
• Leadership: The planned chairman for this venture is Spiro, known for representing high-profile clients like Elon Musk, Jay-Z, and Alec Baldwin. The company structure is still being finalized.

Dogecoin's Institutional Adoption

• Market Position: While Bitcoin and Ethereum are prevalent in institutional portfolios, Dogecoin is establishing its own niche. Neptune Digital Assets revealed a purchase of 1 million DOGE at an average price of $0.37, along with 20 BTC.
• Corporate Financing: Bit Origin, a Nasdaq-listed company, secured $500 million to create the first U.S.-listed company with a Dogecoin treasury, indicating significant institutional interest.

Tesla's Involvement

• Payment Acceptance: Tesla has been accepting DOGE for select merchandise since 2022 and has been quietly holding the cryptocurrency on its balance sheet, showcasing its commitment to the token.
• Musk's Influence: Elon Musk's impact on Dogecoin remains significant, highlighted by his past tweets and public appearances that have influenced market movements.

Legal Background of Spiro

• Previous Legal Case: Spiro previously defended Musk in a lawsuit where investors accused him of manipulating DOGE prices, which was dismissed in late 2024. Now, Spiro is transitioning from legal defense to a strategic role in shaping Dogecoin's future in the corporate sector.

Disclaimer

• Investment Caution: The article emphasizes that the information is for informational purposes only and does not constitute financial advice. Readers are encouraged to conduct their own research and consult with financial advisors before making investment decisions.