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Alex Shapiro, Elon Musk’s personal lawyer, is set to chair a Dogecoin DAT.
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The treasury aims to raise at least $200M to accumulate DOGE.
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This follows a broader trend of Nasdaq-listed firms adopting token reserves.
Leadership and Structure
Fortune reported that Alex Shapiro, best known as Elon Musk’s personal lawyer, will serve as chairman of a new Dogecoin-focused digital asset treasury (DAT). The group aims to raise $200 million to purchase DOGE, though the launch timeline is not yet clear.
Dogecoin’s Place in DATs
DATs have become a hot trend, with companies restructured to hold large token reserves for assets like Solana, SUI, and Toncoin. Dogecoin’s entry reflects both its enduring popularity and Musk’s influence, given his long-standing support of the memecoin.
Market Position
Dogecoin trades around $0.21 with a $32 billion market cap, making it one of the largest non-BTC/ETH tokens. The planned treasury could position DOGE as a more structured corporate reserve asset, alongside efforts by Grayscale to create a Dogecoin ETF.
