Re: Shares of Jack Dorsey’s Block Jump 8.5% on S&P 500 Inclusion
Jack Dorsey's company Block is getting added to the S&P 500.
The company holds over 8,500 bitcoins on its balance sheet.
At the Las Vegas Bitcoin conference they announced a plan to roll out bitcoin payments
to their millions of credit card machines. That could be huge for bitcoin payment adoption.
The company holds over 8,500 bitcoins on its balance sheet.
At the Las Vegas Bitcoin conference they announced a plan to roll out bitcoin payments
to their millions of credit card machines. That could be huge for bitcoin payment adoption.
Quote
Shares of Jack Dorsey’s Block Jump 8.5% on S&P 500 Inclusion
...Inclusion in the index means Block shares will appear in portfolios run by mutual funds
and institutional managers following the S&P 500, the stock market’s benchmark index.
Earlier this year, Coinbase (COIN) became the first cryptocurrency firm to join the index
and at the time its shares saw a similar jump.
Block is best known for its Cash App and Square, as well as its ongoing integration of Bitcoin
into its business model. The company piloted real-time bitcoin payments earlier this year and
is looking to roll out the feature broadly next year.
...Inclusion in the index means Block shares will appear in portfolios run by mutual funds
and institutional managers following the S&P 500, the stock market’s benchmark index.
Earlier this year, Coinbase (COIN) became the first cryptocurrency firm to join the index
and at the time its shares saw a similar jump.
Block is best known for its Cash App and Square, as well as its ongoing integration of Bitcoin
into its business model. The company piloted real-time bitcoin payments earlier this year and
is looking to roll out the feature broadly next year.
Man, what a beast Dorsey is. I am surprised though that they dont have much more bitcoin on their balance sheet. I guess its just the average Joe thst uses cash app though it's not really geared for big business, right? I like his Satoshi shirt, cash app is pretty cool too. His new bit messenger app is also pretty cool. Adding bitcoin payments and adding another option for consumers is great for adoption.