Block, formerly known as Square, is poised to make history as the first company with an explicit Bitcoin strategy to join the S&P 500 index, according to VanEck’s Head of Digital Assets Research, Matthew Sigel.
S&P 500 Requirements and Block's Achievements
To qualify for the S&P 500, a company must meet six stringent requirements, including a market cap over $18 billion and a public float exceeding 10%. Sigel states that Block has successfully met all required conditions.
Block's Clear Bitcoin Strategy
What sets Block apart is its consistent Bitcoin strategy. Unlike Tesla, Block allocates a portion of its Bitcoin profits to recurring investments in the cryptocurrency.
Future Outlook for Block
Block has recently announced a ticker change and plans to release its Q4 2024 financial results. This may further solidify its position for S&P 500 inclusion.
If Block joins the S&P 500, it would represent a significant acknowledgment of Bitcoin-focused businesses on Wall Street.
