Block Joins S&P 500!

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It appears that Mr. Jack Dorsey’s establishment, Block, Inc., has experienced a most agreeable elevation. 😮 The news, released on Friday, that it is to be admitted into the esteemed S&P 500 – a collection, one understands, of the five hundred most substantial enterprises within the United States – has caused a considerable, and rather sudden, surge in its value. One might even say a jump of nearly nine per cent in the after-hours trading! A most fortunate circumstance, indeed.

Block, it is said, shall displace the company Hess Corp, a purveyor of energy, from this prominent index, the change to take effect on Wednesday. Naturally, this pronouncement has occasioned a flutter amongst those devoted to the cause of Bitcoin. Considering Block’s rather enthusiastic support for the digital currency, and its prudent decision to maintain a store of it within its treasury (a sum reportedly amounting to 8,584 Bitcoin, according to the diligent Bitbo), the excitement is quite understandable. 💰

A Triumph for the Cryptocurrency Set

Certain commentators, possessed of a rather keen eye for finance (and perhaps a touch of self-importance), have declared this to be a momentous occasion for Bitcoin itself. One, calling himself WiseSummit, proclaims it “not merely a fleeting headline, but trillions in passive funds edging ever nearer to Bitcoin.” A rather bold assertion, wouldn’t you agree? Another, known as cryptothedoggy, suggests that the union of “Crypto roots + Fintech firepower = Wall Street’s new blueprint.” One hopes Wall Street is prepared for such a lively addition. 😂

The value of Block’s shares (denoted, for those inclined to such things, as XYZ) ascended by a substantial 8.49 per cent in the after-hours dealings, reaching a sum of seventy-nine dollars, as reported by Google Finance. A figure to inspire, or perhaps merely mildly intrigue, one’s attention.

It appears the criteria for such elevation are rigorous, demanding a market capitalization exceeding eighteen billion dollars, a public float of at least ten per cent, and a recent quarter’s earnings displaying a respectable surplus. Furthermore, the collective earnings of the preceding four quarters must also demonstrate profitability, according to the dictates of GAAP, a rather cumbersome set of regulations, one imagines. 🧐

Remarkably, this inclusion follows closely upon the heels of Coinbase Global’s own admittance into the S&P 500, making it the first purveyor of digital exchanges to achieve such distinction. A most curious trend, is it not?

Whispers of Further Acquisitions

There is now talk – indeed, a certain degree of speculation – that other concerns engaged in the realm of cryptocurrency might also be destined for such an honour. Some even suggest that Mr. Michael Saylor’s Strategy might, perchance, qualify shortly. The notion is rather stimulating, though one cannot help but wonder if the S&P 500 is quite prepared for such a flurry of digital enthusiasm. 🙏

Indeed, the prospect of Block’s accession had been the subject of some anticipation. Mr. Matthew Sigel, a gentleman of some repute at VanEck, ventured to suggest, as far back as January tenth, that Block might well be the first company to possess an “explicit” Bitcoin strategy to be welcomed into the fold. A most perceptive observation, it seems, now that the matter is settled.

And just recently, on the twenty-eighth of May, Block announced its intention to introduce Bitcoin payments via Square, its payments processing division, a rollout slated to commence later this year, culminating in a full launch by 2026. A demonstration of this innovation was made at the Bitcoin 2025 conference in Las Vegas, at the BTC Inc. merchandise store – a rather ingenious marketing strategy, one must concede.

Merchants, it is proposed, will be able to receive Bitcoin payments through existing Square hardware, facilitated by the Lightning Network, a supposed improvement upon Bitcoin’s scalability. Whether it will prove to be as revolutionary as its proponents claim remains to be seen. 🤷‍♀️

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2025-07-19 10:26