Elon Musk Lawyer Chairs $200M Dogecoin Treasury Plan

House of Doge, the official corporate entity behind Dogecoin, is launching a new $200 million treasury company to hold Dogecoin on its balance sheet, offering investors stock-market exposure to the token without direct ownership. Elon Musk’s personal lawyer, Alex Spiro, has been named chairman of this Miami-based initiative, which is backed by the Dogecoin Foundation and aims to institutionalize Dogecoin investment. The plan is currently in the pitch stage, with details on the structure and launch timeline yet to be disclosed. This move follows a growing trend of publicly traded companies adopting cryptocurrency treasury strategies to attract traditional investors and stabilize their holdings, similar to Strategy's Bitcoin accumulation. Industry reactions are mixed but generally optimistic about the potential for increased legitimacy and reduced volatility for Dogecoin. However, the lack of detailed governance and structural information at this stage introduces some uncertainty about the initiative's future impact.