The Jack Dorsey Block technology company joined the Standard & Poor’s 500 index on Wednesday (S&P 500), marking the third public company with Bitcoin Holdings to join the world reference.
Block holds 8,584 Bitcoin (BTC) worth $ 1 billion, according to BitCoinTaresurries.net. This hiding place makes block the 13th largest BTC company holder.
The company’s shares on the NYSE Exchange have jumped almost 14% in the past five days since the company announced that it would join the S&P 500.
The S&P 500 follows 500 of the largest American companies listed on the stock market. Among other index companies exhibited at the BTC are Tesla and Coinbase.
To be entered in the S&P 500, a company must have a market capitalization of more than $ 18 billion, a public float (part of the company’s circulation shares which are available for negotiation) greater than 10%, and the most recent quarter income must be positive.
The S&P 500 inclusions lead to greater exposure to the BTC
The S&P 500 index represented 50 billions of dollars in market capitalization at the end of the first quarter of 2025. By purchasing a negotiated stock market or another instrument that follows the S&P 500, investors are exposed to a wide variety of industries, including, Crypto.
In a post of Wednesday X, onlycalls wrote: “The institutional entry solidifies the financial visibility of the BTC. Expect that more conservative entities consider BTC as a viable cash. ”
Block replaces Hess Corp, an American energy company that abandons its fusion of $ 55 billion with the Chevron energy conglomerate.
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Coinbase, Tesla Stock Performances
The other two companies with important Bitcoin holders who landed in the S&P 500 are Coinbase and Tesla. Coinbase holds 9,267 BTC worth $ 1.1 billion at the time of publication. Tesla holds 11,509 BTC worth $ 1.4 billion.
Coinbase’s share price increased by 28.4% in the last month, according to Google Finance. It is a stronger increase than the overall cryptography market, which has jumped 23% in the last 30 days, according to Coingecko.
Tesla’s share price dropped by 4.6% in the last month, although it could be less linked to the cryptography market and more to its fundamental principles and operations.
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