Jack Dorsey’s tech firm joins elite equity index with over 1 billion dollars in Bitcoin holdings, signaling growing institutional confidence in crypto.
New York, USA — Block Inc, the tech company founded by former Twitter CEO Jack Dorsey, has officially joined the S&P 500, making it the third public firm with significant Bitcoin holdings to be added to the prestigious stock index. The inclusion brings further cryptocurrency exposure to one of the most closely tracked equity benchmarks in the world.
Block currently holds 8,584 Bitcoin, valued at approximately 1 billion dollars, placing it 13th on the list of largest corporate BTC holders, according to BitcoinTreasuries.NET. The company now shares index space with Tesla and Coinbase, both of which also have large Bitcoin reserves.
Rising Market Influence
Block’s stock has surged nearly 14 percent in the last five days since the announcement of its S&P 500 inclusion. The S&P 500 represents 500 of the largest publicly traded companies in the United States, and its total market capitalization exceeded 50 trillion dollars as of the first quarter of 2025.
By gaining a position in this index, Block not only enhances its own market visibility but also indirectly increases Bitcoin’s exposure to institutional investors. Exchange traded funds and retirement portfolios tracking the S&P 500 will now carry partial exposure to Bitcoin through Block’s balance sheet.
A Wednesday post on social platform X by analyst OnlyCalls noted,
“Institutional entrance solidifies BTC’s financial visibility. Expect more conservative entities to consider BTC as a viable treasury asset.”
Changing of the Guard
Block replaces Hess Corporation in the S&P 500, following Hess’s 55 billion dollar merger with Chevron. The swap highlights a broader shift in market composition from traditional energy toward digital finance and technology.
To qualify for the S&P 500, companies must meet strict requirements, including a market capitalization of over 18 billion dollars, positive earnings in the most recent quarter, and at least 10 percent of publicly traded float.
Performance of Bitcoin Holding Companies
Among its new peers, Coinbase holds 9,267 Bitcoin worth over 1.1 billion dollars, while Tesla remains the largest with 11,509 BTC valued at approximately 1.4 billion dollars. Coinbase stock has soared over 28 percent in the past month, outperforming the broader crypto market’s 23 percent gain during the same period. Tesla, meanwhile, has seen a 4.6 percent dip, driven more by company-specific factors than crypto volatility.
With Block’s entry into the S&P 500, Bitcoin continues to weave deeper into the fabric of traditional finance with one blue chip at a time.
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