CoinVoice has learned that, according to The Block, Twitter co-founder Jack Dorsey's payment platform Block Inc. will be included in the S&P 500 index on July 23. After this latest news was confirmed late Friday, the stock rose 10% in after-hours trading. Block (stock code: XYZ) was originally founded in 2009 as Square, initially focusing on providing financial services and mobile payment solutions. In December 2021, the company rebranded to Block Inc., reflecting its growing interest and involvement in blockchain technology and digital assets.
Block's Bitkey division has launched a simplified self-custody wallet designed specifically for Bitcoin, while Proto is a suite of Bitcoin mining products and services. This inclusion in the S&P 500 index comes about two months after Coinbase became the first pure cryptocurrency company to join this benchmark index. Block will replace Hess, which is set to be acquired by Chevron and exit the index. Last summer, Block began investing 10% of its Bitcoin profits each month into BTC. [Original link]
