Key Notes
- Fintech giant Block Inc has been added to the S&P 500 effective July 23.
- Block replaced US energy company Hess Corp on the S&P 500.
- Strategy may eventually be added to the S&P 500 Index, a move bolstered by epic Bitcoin bets.
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Jack Dorsey’s financial services company, Block, Inc., has been added to the S&P 500, the benchmark index of the 500 largest US companies by market capitalization. It is replacing US energy company Hess Corp on the S&P 500. According to a statement published on July 18, the replacement will become effective before trading commences on Wednesday.
Block Inc. Meets S&P 500 Criteria
The news of Block Inc.’s addition to the S&P 500 caused its market value to surge by 9% in after-hours trading on Friday.
It jumped as high as $79, according to Google Finance data. This underscores the level of bullish reaction the event received from the market, especially the Bitcoin (BTC) community. Block Inc. gained this much embrace because it is one of the most renowned backers of Bitcoin.
🚨Jack Dorsey’s Block Inc. joins the S&P 500. Block holds 8,584 $BTC, worth over $1B.
— Krasnov (@krasnovcrypto) July 19, 2025
The firm has a large Bitcoin treasury, and according to recent data from Bitbo, Block currently holds 8,584 BTC. Therefore, analysts and market observers believe that the S&P 500 inclusion is a significant win for Bitcoin.
Speaking of this, crypto commentary account WiseSummit highlighted that, “This is not just a headline,” describing it as “trillions in passive flows inching closer to Bitcoin.”
Also, crypto trader cryptothedoggy said, “Crypto roots + Fintech firepower = Wall Street’s new blueprint.”
Moreover, this is a notable milestone for Block, as it demonstrates its growth and progress over the years. For a firm to get on the S&P 500, its market cap must be greater than $18 billion. In addition, it must have a public float that is greater than 10%, and its most recent quarter’s earnings should be positive.
Such a firm must also have the sum of the previous four quarters’ Generally Accepted Accounting Principles (GAAP) earnings positive. Like Block Inc., the American cryptocurrency exchange Coinbase has also achieved this feat. It has been two months since the digital asset service provider became the first crypto firm to be included in the S&P 500 index.
Strategy Plans to Join S&P 500
More firms are looking to join the benchmark index of the 500 largest US companies by market capitalization. Strategy, formerly known as MicroStrategy, has been making incremental moves that could lead to a listing on the S&P 500. One of such moves is becoming the largest corporate holder of Bitcoin.
About a week ago, Strategy announced a $4.2 billion at-the-market (ATM) share sale as part of its move to further expand its Bitcoin holdings, following a profitable first half of 2025. There are plans to sell preferred STRD stock over. The proceeds will be used for the acquisition of Bitcoin and corporate operations.
The business intelligence and software firm is keen on maintaining its Bitcoin accumulation model. It believes strongly that Bitcoin is the most effective long-term store of value in a volatile macroeconomic climate. The reason for sustaining this strategy is not far-fetched, considering that the coin has not failed to disappoint its holders.
Its total holdings of over 600,000 BTC have given it a profit of more than $14 million.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
