Block Joins S&P 500, Expands Bitcoin Payments

Block, the parent company of Square, has joined the S&P 500 index, becoming the third public company with significant Bitcoin holdings on the index after Coinbase and Tesla. Block now holds more than 8,500 BTC, valued at approximately $1 billion, and its stock price has surged following the S&P 500 announcement. Concurrently, Square has started rolling out Bitcoin payments for select merchants using the Lightning Network, with plans to reach all 4 million US sellers by 2026. The integration enables fast, low-fee Bitcoin payments and allows merchants to convert BTC to dollars instantly, addressing prior adoption hurdles related to fees and volatility. This initiative is expected to boost mainstream Bitcoin adoption in US commerce and accelerate its transition to a practical medium of exchange. The rollout comes during a strong Bitcoin bull market fueled by ETF inflows and increased institutional participation.