Block Inc. joins S&P 500: Positive sign for the widespread acceptance of Crypto!

The cryptocurrency market received another extremely optimistic piece of news as the stock of #BlockInc . (formerly Square) surged over 10% in after-hours trading. The reason is that the company has officially been announced to join the S&P 500 index on July 23, replacing Hess.

This is a significant milestone, not only for Block but also for the entire crypto industry. The addition of Block Inc. - a fintech company co-founded by Jack Dorsey, known for its payment solutions and Cash App, while increasingly expanding into Bitcoin and blockchain - to the S&P 500 means that they will be included in ETFs, mutual funds, and the portfolios of major asset managers. This will bring in a massive index-driven cash flow, affirming the growing position and confidence of traditional finance in companies related to digital assets.

In particular, this is the second crypto-related company to be included in the index #S&P500 , indicating a strong and irreversible trend of acceptance and integration of blockchain technology into mainstream finance. The future of cryptocurrency is becoming increasingly bright with such positive signs!