Block will enter the S&P500 this week

The Block company, founded by the creator of Twitter, Jack Dorsy, will join the S&P 500 on July 23, a step that consolidates its relevance in the US market.

This company, known for its Square brands, Cash APP, Afterpay, Tidal, Proto and Bitkey, stressed in a statement that this achievement reflects the solidity of their business and the effort of thousands of employees to democratize access to the economy.

The S&P 500, an index that It brings together the 500 most representative companies in the United States for market capitalizationliquidity and financial stability, gives companies included greater visibility and access to institutional investors, which usually promotes the value of their actions.

The announcement has promoted the price of block shares. A week ago, they quoted at $ 62; On Friday they closed at $ 72, and in the Premarket —The session of negotiation prior to the official opening of the market – reached 79 dollars. This movement reflects the confidence of investors in the block business model, which combines traditional financial services with innovations in the Bitcoin ecosystem.

Through block, DORSEY has led projects to expand the use of Bitcoin. The company has developed a decentralized mining platforma Wallet of Self -Custody to facilitate direct transactions of BTC and has supported Lightning Network.

In addition, Block finances open source projects and launched bitkey, a hardware device that allows users to store bitcoin and cryptocurrencies safely, promoting self -ustody and reducing risks associated with online exchanges.

The rise of block to S&P 500 is not an isolated case between companies linked to Bitcoin. In May, Coinbase, the second largest cryptocurrency exchanges by trade volume, also entered the index. As Cryptonoticias reported, the company reached a market capitalization of 100,350 million dollars last week, consolidating its position on Wall Street.

For its part, Strategy, the public company with the largest Bitcoin reserve in its corporate treasury, is close to joining the S&P 500. With a market capitalization of 112.9 billion dollars at the beginning of July, it is positioned as the 93rd largest company in the United States. Its possible entry to the index, which could materialize in September, depends on the decision of the S&P 500 committeeresponsible for evaluating criteria such as liquidity and profitability.

The incorporation of these companies into the S&P 500 underlines the growing weight of Bitcoin -related companies in the US economy, reflecting a change in Bitcoin’s perception as as strategic asset in traditional markets.