Block joins S&P 500, bringing more Bitcoin exposure to equity index
Block’s inclusion in the S&P 500 could indirectly increase equity investors’ exposure to Bitcoin and the asset’s mainstream acceptance.
Jack Dorsey’s technology company Block joined the Standard & Poor’s 500 (S&P 500) index on Wednesday, marking the third public company with Bitcoin holdings to join the global benchmark.
Block holds 8,584 Bitcoin (BTC) worth approximately $1 billion, according to BitcoinTreasuries.NET. That stash makes Block the 13th-largest corporate holder of BTC.
The company’s shares on the NYSE exchange have jumped nearly 14% over the past five days since the company announced it would join the S&P 500.