Index Update: S&P 500 Welcomes New Publicly Listed Entity Holding Bitcoin in Treasury

Block’s recent addition to the S&P 500 has marked a significant milestone for the company, as it has become the third publicly listed entity to hold Bitcoin (BTC) in its treasury. This development comes after Tesla and Coinbase were already listed in the S&P 500 index.

The move is seen as a testament to the growing acceptance of cryptocurrency within the financial mainstream. As the index’s 0.09% weighting, Block’s addition has sparked widespread interest among investors. However, it remains to be seen whether this development will have any significant impact on the global digital asset market.

As per recent data, Block now holds 8,584 BTC worth $1 billion in its treasury, further solidifying the company’s position as a prominent player in the fintech space.

Source: cryptoslate.com