{"id":863584,"date":"2025-07-19T19:11:58","date_gmt":"2025-07-20T00:11:58","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/07\/19\/jack-dorseys-block-to-join-the-sp-500-index-next-week\/"},"modified":"2025-07-19T19:11:58","modified_gmt":"2025-07-20T00:11:58","slug":"jack-dorseys-block-to-join-the-sp-500-index-next-week","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/07\/19\/jack-dorseys-block-to-join-the-sp-500-index-next-week\/","title":{"rendered":"Jack Dorsey\u2019s Block to Join the S&#038;P 500 Index Next Week"},"content":{"rendered":"<div role=\"main\" id=\"main-content-row\">\n<article id=\"the-post\" data-post-url=\"https:\/\/coinpedia.org\/news\/jack-dorseys-block-to-join-the-sp-500-index-next-week\/\" data-post-title=\"Jack Dorsey\u2019s Block to Join the S&#038;P 500 Index Next Week\" data-post-edit=\"https:\/\/coinpedia.org\/wp-admin\/post.php?post=483987&#038;action=edit\">\n<div>\n<figure><img width=\"1200\" height=\"628\" src=\"https:\/\/image.coinpedia.org\/wp-content\/uploads\/2025\/02\/18174959\/Is-Jack-Dorsey-Satoshi-Nakamoto_-Viral-Post-Sparks-Bitcoin-Founder-Debate.webp\" alt=\"Jack Dorsey\u2019s Block to Launch Bitcoin Payments on Square by 2026\" data-main-img=\"1\" decoding=\"async\" fetchpriority=\"high\"  ><\/figure>\n<\/div>\n<div>\n<p>Block Inc. (NYSE: XYZ), an American tech company founded by Jack Dorsey and best known for the creation of Cash App, will replace Hess Corp. (NYSE: HSE) in the S&#038;P 500 index. The removal of the energy company was instituted after it was acquired by Chevron Corp. (NYSE: CVX).\u00a0<\/p>\n<p>Beginning on Wednesday, July 23, the XYZ stock will be <a href=\"https:\/\/x.com\/bitcoinmagazine\/status\/1946322014903357503?s=46\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">included<\/a> in the S&#038;P 500 index. As a result, Block Inc., will join Coinbase Global Inc. (NASDAQ: COIN), which joined the index in mid May 2025.<\/p>\n<h2 id=\"h-jack-dorsey-s-block-introduces-bitcoin-to-mainstream-institutional-investors-nbsp\">Jack Dorsey\u2019s Block Introduces Bitcoin to Mainstream Institutional Investors\u00a0<\/h2>\n<p>According to market aggregate data from <a href=\"https:\/\/bitcointreasuries.net\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">BitcoinTreasuries<\/a>, Block Inc., has held 8,585 Bitcoins, worth about $1.01 billion, since October 7 2020. The company purchased its Bitcoin trove at an average price of about $30,405, thus achieving a profit of nearly 300 percent.<\/p>\n<p>The inclusion of the Block Inc. into the S&#038;P 500 index will, therefore, play a crucial role in the mainstream adoption of BTC by institutional investors. Furthermore, the cryptocurrency market has received much needed legal clarity, especially after President Donald Trump signed into law the <a href=\"https:\/\/coinpedia.org\/news\/president-donald-trump-officially-signs-the-genius-act-into-law-whats-next-for-crypto\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">GENIUS Act<\/a>.<\/p>\n<p>Following the announcement, the XYZ stock market gained 10 percent in the after hours on Friday to trade about $79.49. The large-cap company, with a market valuation of about $43 billion, has seen its stock rally over 35 percent in the past three months.<\/p>\n<p>The bullish sentiment of XYZ is partially influenced by the ongoing rally in Bitcoin fueled by mainstream adoption.<\/p>\n<\/div>\n<div>\n<h2>We&#8217;d Love to Hear Your Thoughts on This Article!<\/h2>\n<div>\n<h4>Was this writing helpful?<\/h4>\n<\/div>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/coinpedia.org\/news\/jack-dorseys-block-to-join-the-sp-500-index-next-week\/\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n Steve Muchoki<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Block Inc. (NYSE: XYZ), an American tech company founded by Jack Dorsey and best known for the creation of Cash App, will replace Hess Corp. (NYSE: HSE) in the S&amp;P 500 index. The removal of the energy company was instituted after it was acquired by Chevron Corp. (NYSE: CVX).\u00a0 Beginning on Wednesday, July 23, the<\/p>\n","protected":false},"author":1,"featured_media":863585,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23950,33024],"tags":[],"class_list":{"0":"post-863584","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-block","8":"category-dorseys"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/863584","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=863584"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/863584\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/863585"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=863584"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=863584"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=863584"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}