Block, Jack Doresey company, officially joins S&P 500

The company, responsible for payments for payments and infrastructure developer based on Bitcoin, officially joins the index S&P 500. The announcement derives in a rebound greater than 10% in the price of its shares.

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• Block Inc. will enter to S&P 500 On July 23, instead of HESS CORP.
  
• The actions of Block More than 10% rose after the ad.
  
• The company, founded by Jack DORSEY, is the leader for adoption of Bitcoin.

Block Inc.the Fintech company founded by Jack Dorsy and previously known as Square, will enter the stock market index S&P 500 Next Wednesday, July 23, before the opening of the markets. He announced it S&P Dow Jones Indices In a report, generating an immediate positive reaction among investors.

The news caused an increase of more than 10% in the price of the shares of Block during extended Fridays. This type of movements is common when a company adds to a widely followed index such as the S&P 500since many indexed funds adjust their portfolios to reflect such inclusion.

Block will replace a HESS Corporation, an energy company that will leave the index due to its acquisition process by Chevron, which is still subject to regulatory approval.

A Fintech company with DNA crypto

Founded in 2009 by Jack DORSEY and JIM MCKELVEY, Block Inc. It has evolved from being a simple point of sale platform for small businesses to become one of the most diversified fintechs in the world. The company offers a wide range of financial products under brands such as Square, Cash APP, Afterpay, and also promotes projects related to Bitcoin Through its divisions TBD and Spiral.

For 2024, Block It generated income for USD $ 22.3 billion. This figure reflects its ability to serve both retail users and merchants, as well as their focus on financial inclusion tools.

A distinctive feature of Block It has been its early and consistent integration with Bitcoin. The company maintains BTC In its general balance and has invested strongly in blockchain infrastructure, reinforcing its commitment to a more decentralized financial future.

Impact of admission to S&P 500

He S&P 500 It is one of the most followed stock indices worldwide, and groups 500 of the most representative companies of the US economy. The inclusion of Block It reinforces the acceptance tendency of technology companies and fintechs in traditional financial circles.

To be eligible to S&P 500, A company must comply with strict stock capitalization criteria, liquidity, financial history and sector representation. Block It meets these requirements, and their entry into the index represents not only recognition of its maturity as a company, but also a sign of the growing prominence of companies linked to the crypto ecosystem in traditional markets.

Jack DORSEY AND LONG TERM VISION

Jack DORSEY, also co -founder of Twitter/xit has been one of the most visible voices of cryptospace for more than a decade. His vision of an open and decentralized financial system has molded the strategy of Block, positioning it as a pioneer in the integration of technologies Blockchain in conventional financial services.

Inclusion in the S&P 500 could further strengthen that vision, providing greater institutional exposure and increasing the demand for the actions of Block by investment funds that follow said index. This, in turn, could promote new investments in innovation and global expansion.

In summary, the entry of Block Inc. to the S&P 500 It marks a significant milestone for both the company and the Fintech and crypto ecosystem. As the market evolves, the company seems to be well positioned to capitalize on the opportunities offered by the convergence between technology, finance and decentralization.

Article prepared with artificial intelligence support, edited by Angel Di Matteo / Diariobitcoin

Original image of Diariobitcoin, created with artificial intelligence, for free use, licensed under public domain

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