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Topic: Shares of Jack Dorseys Block Jump 8.5% on S&P 500 Inclusion (Read 54 times)

headingnorth (OP)

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Shares of Jack Dorseys Block Jump 8.5% on S&P 500 Inclusion

July 19, 2025, 11:20:26 PM
Last edit: July 20, 2025, 01:27:26 AM by headingnorth

Jack Dorsey's company Block is getting added to the S&P 500.
The company holds over 8,500 bitcoins on its balance sheet.

At the Las Vegas Bitcoin conference Block announced a plan to roll out bitcoin payments
to their millions of credit card machines. That could be huge for bitcoin payment adoption.

Quote

Shares of Jack Dorseys Block Jump 8.5% on S&P 500 Inclusion

...Inclusion in the index means Block shares will appear in portfolios run by mutual funds
and institutional managers following the S&P 500, the stock markets benchmark index.

Earlier this year, Coinbase (COIN) became the first cryptocurrency firm to join the index
and at the time its shares saw a similar jump.

Block is best known for its Cash App and Square, as well as its ongoing integration of Bitcoin
into its business model. The company piloted real-time bitcoin payments earlier this year and
is looking to roll out the feature broadly next year.

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tread93

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Re: Shares of Jack Dorseys Block Jump 8.5% on S&P 500 Inclusion

July 20, 2025, 01:02:25 AM

Quote from: headingnorth on July 19, 2025, 11:20:26 PM

Jack Dorsey's company Block is getting added to the S&P 500.
The company holds over 8,500 bitcoins on its balance sheet.

At the Las Vegas Bitcoin conference they announced a plan to roll out bitcoin payments
to their millions of credit card machines. That could be huge for bitcoin payment adoption.

Quote

Man, what a beast Dorsey is. I am surprised though that they dont have much more bitcoin on their balance sheet. I guess its just the average Joe thst uses cash app though it's not really geared for big business, right? I like his Satoshi shirt, cash app is pretty cool too. His new bit messenger app is also pretty cool. Adding bitcoin payments and adding another option for consumers is great for adoption.

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headingnorth (OP)

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Re: Shares of Jack Dorseys Block Jump 8.5% on S&P 500 Inclusion

July 20, 2025, 01:24:00 AM

Quote from: tread93 on July 20, 2025, 01:02:25 AM

Dorsey is a real OG, getting into bitcoin since 2010 and incorporating it into his Cash App program in 2013.
I'm starting to think he may be Satoshi Nakamoto himself, or maybe just his uncle or cousin.

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GreatArkansas

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Re: Shares of Jack Dorseys Block Jump 8.5% on S&P 500 Inclusion

July 20, 2025, 01:55:45 AM

But Block company is not a cryptocurrency firm, just like Coinbase.
Is the reason why they are included in the S&P 500 their Bitcoin holdings? Because I believe Block is really doing well, especially in its market cap and financial viability.

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headingnorth (OP)

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Re: Shares of Jack Dorseys Block Jump 8.5% on S&P 500 Inclusion

July 20, 2025, 03:54:16 AM

AFAIK, to qualify for the S&P500 you need to have a business outside of financial services.

So if your company is only holding bitcoin, without providing any other product or service,
you are considered a financial services or investment company which isn't allowed on the list.

You can hold bitcoin on your balance sheet as long as you have a real business outside of investing.
So Microstrategy could qualify because they have a software business outside of bitcoin.
Block definitely qualifies because their main business is payment processing. It has nothing to do with their bitcoin holdings.

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