The company plans to raise at least $200 million, according to two of the sources. Details about the structure of the public vehicle or when it would launch were not immediately available.
And Alex Spiro, a personal attorney for Musk, plans to be chairman of the public company, according to a pitch sent to a potential investor and five sources familiar with the matter.
Dogecoin is the original “memecoin”—a cryptocurrency that references an online joke and doesn’t have any underlying utility. The value of a memecoin is often tied to its online popularity. Dogecoin refers to a popular meme featuring a picture of a Shiba Inu surrounded by absurdist text, like “so amaze,” in Comic Sans font.
Strategy rode the boom to a market capitalization of around $96 billion, and copycats have since tried to replicate Saylor’s financial alchemy. Since January, 184 public companies have announced crypto purchases collectively worth almost $132 billion, according to data from Architect Partners, a crypto M&A advisory and financing firm.
