Jack Dorsey's firm joins S&P 500 amid surprise offer for 4M merchants originally appeared on TheStreet .
Block, Inc. (NYSE: XYZ), the tech and financial services company, recently made a few announcements that have sent the company's stock soaring.
First, the company is set to join the S&P 500, the stock market index tracking the performance of 500 of the largest public companies in the U.S., on July 23.
Next, Block's business head, Owen Jennings, announced on July 22 that the company's Square payments system is onboarding merchants to its new Bitcoin acceptance feature.
The Square point-of-sale terminal system serves over 4 million U.S. merchants who can potentially pivot toward Bitcoin payments via the Lightning Network.
Square integrating Bitcoin payments for its large user base comes at an opportune time, as the world's largest cryptocurrency hit an all-time high (ATH) of $123,091.61 only last week.
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Founded by Twitter co-founder Jack Dorsey in 2009, Block, Inc., earlier known as Square, Inc., has a suite of products that are geared toward Bitcoin. Besides Square, it offers the Cash App digital wallet that supports Bitcoin investments and the self-custody Bitkey wallet for Bitcoin.
Block, Inc. holds more than $1 billion in 8,584 BTC on its corporate balance sheet. Dorsey himself is a well-known Bitcoin advocate who believes its price will go up to $1 million at least by 2030.
The company, which went public in 2015, saw its stock soar 9% to as high as $79.44 on July 21 following the July 18 announcement of its inclusion in the S&P 500. Square's recent announcement of Bitcoin integration led to the stock continuing its rally.
The XYZ stock was exchanging hands at $80.32 in pre-market hours on July 23.
Jack Dorsey's firm joins S&P 500 amid surprise offer for 4M merchants first appeared on TheStreet on Jul 23, 2025
This story was originally reported by TheStreet on Jul 23, 2025, where it first appeared.
