Key Takeaways
- Block, Inc. will replace Hess Corp in the S&P 500, sparking a 9% after-hours stock surge.
- Block holds 8,584 bitcoin as part of its treasury, underscoring its Bitcoin advocacy.
- Company plans to enable Bitcoin payments for merchants via Square and the Lightning Network.
Jack Dorsey’s Block, Inc. is set to join the S&P 500, replacing Hess Corp before trading opens on Wednesday.
News of the inclusion sent Block’s stock surging 8.49% in after-hours trading to $79, according to Google Finance, with a 14.51% gain recorded over the past 30 days.
Block’s bitcoin strategy draws attention
Block’s addition to the S&P 500 drew significant interest from the Bitcoin community because of the firm’s strong advocacy for Bitcoin and its notable treasury holdings.
The latest data shows Block holds 8,584 bitcoin, positioning it among the leading public companies holding bitcoin as a treasury asset.
A post from commentary account WiseSummit captured the sentiment:
“This is not just a headline. It is trillions in passive flows inching closer to Bitcoin.”
s&p 500 requirements and recent trends
To qualify for the S&P 500, a company must have a market capitalization greater than $18 billion, a public float over 10%, and positive GAAP earnings for the most recent quarter and the sum of the last four quarters.
Block’s inclusion comes just two months after Coinbase became the first Bitcoin-related company added to the index.
more bitcoin firms may follow
There is speculation that additional Bitcoin-related firms may join the index soon.
After Michael Saylor’s MicroStrategy reached an all-time high market capitalization, some analysts noted it has repeatedly met S&P 500 qualification criteria.
bitcoin payments expansion
Block also announced plans to roll out Bitcoin payments via its Square platform, allowing merchants to accept payments through the Lightning Network.
Demonstrated at the Bitcoin 2025 conference, this feature is set for a phased launch starting later this year.
