Block, founded by Jack Dorsey, achieved significant success by entering the prestigious S&P 500 index on July 23, 2025, replacing Hess Corp. This move boosted Block's shares by 10.7%, reaching $79.69, indicating high investor confidence. Block became the third company in the index with Bitcoin reserves (8584 $BTC , ~$1 billion), following Tesla and Coinbase, strengthening the presence of cryptocurrencies on Wall Street.
Along with this, Block announced the launch of a pilot project for Bitcoin payments through the Square platform, using the Lightning Network. This innovation, presented at the Bitcoin 2025 conference in Las Vegas, will allow merchants to conduct fast and cheap transactions, with the ability to convert BTC to fiat. A full launch is expected in 2026. Such a strategy reflects Dorsey's belief in Bitcoin as the foundation of the future financial ecosystem.
Inclusion in the S&P 500 and the promotion of Bitcoin payments highlight Block's leadership in the fintech sector. The company, which evolved from Square to Block, continues to integrate cryptocurrencies into its products, such as Cash App. Stay tuned for cryptocurrency market news and join #MiningUpdates
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