Block join S&P 500, dey drive Bitcoin demand
Block don officially join di S&P 500 index, e replace Hess Corp after e market cap pass $18 billion and e report four consecutive profitable GAAP quarters. Di S&P 500 inclusion cause Block stock jump 8.5% for after-hours trading. As di second crypto company for di S&P 500 after Coinbase, Block inclusion show say more and more institutional dey adopt Bitcoin. Block get over 8,500 BTC for im balance sheet, wey fit bring passive flow into Bitcoin through index-tracking funds. Block also plan to join Bitcoin payments with Square POS systems using Lightning Network. Pilot launch go happen later dis year, full rollout by 2026. Traders suppose dey watch institutional flows and new fintech innovations wey fit boost Bitcoin liquidity and long-term demand.
Bullish
Block fallout inside S&P 500 mean say institutional pipo dey demand Bitcoin more strong. For short term, passive money wey come from index funds and ETFs fit cause BTC price to rise as dem rebalance. For long term, fintech innovation dey grow plus Square dem integrate Lightning Network, e fit make Bitcoin dey more useful plus get better liquidity. This one go attract more institution and retail investors. This kain demand and adoption boost dey make Bitcoin get better chance to rise.