Block Inc., the quirky fintech brainchild of Twitter’s ex-boss Jack Dorsey, is hopping onto the S&P 500 train on July 23. Yep, the same Jack who cashes in on Bitcoin and tweets like he’s trying to summon a storm.
The official word from S&P Dow Jones — because they love drama — is that Block will chuck out Hess Corporation, which recently got absorbed by Chevron. Bye-bye, Hess. Hello, Bitcoin’s new best friend.
Second Crypto Darling in S&P 500 — Because Why Not?
Started as Square back in 2009, Block was basically a payments app that decided Bitcoin was its next soulmate. Now it’s strutting into the big leagues, rubbing elbows with the titans of traditional finance.
Thanks to Cash App and a little thing called “cryptocurrency integration,” Block has become the cool kid that everyone’s talking about — profitable, hefty market cap, and liquid enough to make Wall Street squeal.
The S&P 500 isn’t just a fancy number — it’s the global gold standard for indicating who’s got their act together financially. Being included is basically the financial equivalent of being invited to the cool kids’ table.
This is a big deal. Crypto companies, historically living in the basement of finance, just got a shiny ticket to the main event.
And guess what? Block is only the second crypto company after Coinbase to get this honor. Because apparently, Bitcoin’s new BFFs are still in their awkward teenage phase, trying to find their place.
Oh, and adding Block bump the number of S&P 500 companies with direct Bitcoin exposure to three — yep, it’s Tesla, Coinbase, and now, the crypto cheerleader, Block.
“When Strategy (or whatever they’re calling themselves now) makes it into the S&P, that’s gonna be the moment we all pretend we’re surprised,” said Ben Pham, CFO of Strive, the asset management folks who love to talk about “mass corporate Bitcoin adoption.”
Crypto’s feeling pretty bullish lately with new laws in the US waving hello and Bitcoin/Ethereum prices rising faster than your Aunt’s holiday pounds. Institutional investors are now passing around Bitcoin like it’s the new office coffee fund.
No one’s saying it outright, but the whispers are that other crypto titans like MicroStrategy (a.k.a. Strategy, with 600k BTC — just casually having a small fortune in digital gold) might be next in line for the elite S&P party.
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2025-07-19 16:31