Block Inc. may become the first company with an explicit Bitcoin strategy to be included in the S&P 500, as suggested by Matthew Sigel, head of digital assets research at VanEck. Sigel outlined that for a company to qualify for the index, it must meet six criteria, including a market cap exceeding $18 billion and positive earnings. Block reportedly satisfied the earnings requirements after Q1 2024, yet inclusion is subject to the discretion of the Index Committee. Companies that meet criteria have historically been added within three to 21 months. Sigel emphasized that while Tesla also holds Bitcoin, it lacks a formal investment strategy like Block's, which allocates 10% of its monthly Bitcoin gross profits to investment. He also noted that Coinbase could face scrutiny for its pure-play crypto exposure. Block, founded in 2009, is among the top holders of Bitcoin with 8,363 BTC worth approximately $775 million. The company recently announced a change in its ticker symbol as part of a rebranding effort.

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