Jack Dorsi’s Financial Services Company, Block, Inc. After the news on Friday, the hours of the hourly trading increased by about 9% that it would be added to the S&P 500, which is the benchmark index of the 500 largest American companies by market capitalization.
The block will replace the US Energy Company Hays Corp on S&P500 before trading starts on Wednesday, According For a statement on Friday. The announcement triggled a strong response from the bitcoin (BTC) community, advocating the firm for bitcoin and its strategy to keep the bitcoin as part of its treasure. To all recent Bitbo’s data shows that the block has 8,584 bitcoins.
The Crypto industry says this is a big step for bitcoin
Crypto Commentary Account Viceumit Said In a post on Friday, “It’s not just a title. It is a trillion in passive flow close to bitcoin.” Meanwhile, Crypto trader cryptothedoggy Said“Crypto Roots + Fintech Firepower = New Blown of Wall Street.”
Stock price of block (XYZ) rose by 8.49% in hours trading on Friday, reached $ 79 According For Google Finance Data.
To be listed on S&P 500, the firm must have a market cap of over $ 18 billion, public float of over 10%, and the most recent quarter should be positive. The sum of the income of GAAP (usually approved accounting principles) of the last four quarters should also be positive.
The entry of the block in S&P 500 came only two months after the Crypto Exchange Coinbase Global (Coin), which became the first crypto firm to make it in the S&P 500 index.
More crypto-related firms should be added to the future
However, there are speculation that more crypto-related firms can be added to the future.
On Wednesday, Michael Sirer’s strategy broke its all -time high market capitalization, Jeff Walton, vice -president of Bitcoin’s strategy, said it is the 11th day of the merit strategy for S&P 500.
The block step at S&P 500 was estimated for some time. On 10 January, Matthew Sigale, head of Digital Assets Research in Onek, suggested that the “clear” can become the first company with a “clear” bitcoin strategy to join the block S&P 500.
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Meanwhile, on May 28, the block announced that it would launch bitcoin payments at the Square, its payment processing branch with a rollout starting at the end of this year before the full launch in 2026.
The company announced the plan on 27 May at the Bitcoin 2025 conference in Las Vegas, where the block demonstrated the feature at the BTC Inc. Merchandise Store.
Merchants will be able to accept bitcoin payments through existing class hardware using a sharp, low -cost layer -2 scaling network of bitcoin, bitcoin.
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