Alex Spiro, Elon Musk's regular court lawyer, is being appointed chairman of a new publicly traded company that plans to raise $200 million to buy and hold Dogecoin. The company, in talks with investors, describes the vehicle as a pure Dogecoin treasury, backed by House of Doge, the Miami-based corporate arm of the Dogecoin Foundation, established earlier this year. The specific structure and timing haven't been disclosed. In other words, it's still in the marketing phase, but the intentions are clear.
The model is simple and familiar: take a company public, raise capital, add Dogecoin to the balance sheet, and allow traditional stock investors to invest in Dogecoin in the stock market without forcing them to take custody of a memecoin. It's the same basic technique mastered by Bitcoin maximalists—only this time, it started as a joke and became a cultural commodity.
