ChainCatcher reports that, according to market information, Block (stock code: XYZ) rose over 11% after hours, with its market value increasing to $43.5 billion.
Previously, Jack Dorsey's payment company was set to join the S&P 500 index.
Earlier reported, on May 3, 2024, Jack Dorsey's payment company announced its Dollar Cost Averaging (DCA) plan for Bitcoin, under which 10% of the monthly gross profit from the Bitcoin Conversions Product will be used to purchase Bitcoin for investment. Previous data showed that the first quarter's Bitcoin Conversions Product gross profit was $80 million. If this profit level continues for the rest of the year, the company will add Bitcoin worth $24 million to its balance sheet under this plan.
As of March 31, 2024, the company held 8,038 Bit on its balance sheet, accounting for approximately 9% of its total cash, cash equivalents, and marketable securities.
