In a stunning turn of events, Jack Dorsey’s financial services company, Block, Inc., has been inducted into the S&P 500, the financial world’s equivalent of a Hogwarts acceptance letter. It’s replacing US energy company Hess Corp, who probably muttered something about “this is why we can’t have nice things” as they were booted out. According to a statement published on July 18, the replacement will become effective before trading commences on Wednesday. Or, as the S&P 500 might say, “We’re not here to make friends, only to collect fees.”
Block Inc. Meets S&P 500 Criteria
The news of Block Inc.’s addition to the S&P 500 caused its market value to surge by 9% in after-hours trading on Friday. The market, it seems, has finally learned that Bitcoin is not a scam but a “digital gold” that even the S&P 500 can’t ignore. It jumped as high as $79, according to Google Finance data. This underscores the level of bullish reaction the event received from the market, especially the Bitcoin (BTC) community. Block Inc. gained this much embrace because it is one of the most renowned backers of Bitcoin. Or, as the Bitcoin community might say, “Finally, someone who understands our vision of a world where everyone is rich and no one has to work.”
🚨Jack Dorsey’s Block Inc. joins the S&P 500. Block holds 8,584 $BTC, worth over $1B.
— Krasnov (@krasnovcrypto) July 19, 2025
The firm has a large Bitcoin treasury, and according to recent data from Bitbo, Block currently holds 8,584 BTC. Therefore, analysts and market observers believe that the S&P 500 inclusion is a significant win for Bitcoin. Or, as a confused economist might mutter, “Why is the stock market suddenly treating Bitcoin like it’s the next big thing? I thought it was just a fad!”
Speaking of this, crypto commentary account WiseSummit highlighted that, “This is not just a headline,” describing it as “trillions in passive flows inching closer to Bitcoin.” Meanwhile, crypto trader cryptothedoggy said, “Crypto roots + Fintech firepower = Wall Street’s new blueprint.” Or, as a grumpy investor might say, “I don’t care if it’s a blueprint, I just want my 401(k) to stop looking like a rollercoaster.”
Moreover, this is a notable milestone for Block, as it demonstrates its growth and progress over the years. For a firm to get on the S&P 500, its market cap must be greater than $18 billion. In addition, it must have a public float that is greater than 10%, and its most recent quarter’s earnings should be positive. Such a firm must also have the sum of the previous four quarters’ Generally Accepted Accounting Principles (GAAP) earnings positive. Like Block Inc., the American cryptocurrency exchange Coinbase has also achieved this feat. It has been two months since the digital asset service provider became the first crypto firm to be included in the S&P 500 index. Or, as the S&P 500 might say, “We’re not endorsing Bitcoin, we’re just acknowledging that it’s here to stay.”
Strategy Plans to Join S&P 500
More firms are looking to join the benchmark index of the 500 largest US companies by market capitalization. Strategy, formerly known as MicroStrategy, has been making incremental moves that could lead to a listing on the S&P 500. One of such moves is becoming the largest corporate holder of Bitcoin. Or, as Strategy might say, “We’re not investing in Bitcoin, we’re just… borrowing it for a little while.”
About a week ago, Strategy announced a $4.2 billion at-the-market (ATM) share sale as part of its move to further expand its Bitcoin holdings, following a profitable first half of 2025. There are plans to sell preferred STRD stock over. The proceeds will be used for the acquisition of Bitcoin and corporate operations. The business intelligence and software firm is keen on maintaining its Bitcoin accumulation model. It believes strongly that Bitcoin is the most effective long-term store of value in a volatile macroeconomic climate. The reason for sustaining this strategy is not far-fetched, considering that the coin has not failed to disappoint its holders. Or, as a skeptic might say, “It’s not that Bitcoin is reliable, it’s just that the alternatives are worse.”
Its total holdings of over 600,000 BTC have given it a profit of more than $14 million. Or, as a accountant might sigh, “At least the numbers make sense… mostly.”
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2025-07-19 23:18