Block adds 85 Bitcoin, treasury rises to 9,117 BTC after S&P 500 entry
Block Inc. has increased its corporate Bitcoin treasury by 85 BTC, taking its total holdings to 9,117 BTC and moving the Jack Dorsey-led company to 15th place in the Bitcoin 100 corporate holdings ranking. SummaryBlock has increased its Bitcoin treasury by 85 BTC, taking total holdings to 9,117 BTC.The latest purchase moves the Jack Dorsey led company to 15th place among public Bitcoin holders.The addition comes weeks after Block joined the Ss Block Inc $XYZ buys an additional 85 #Bitcoin and now holds a total of 9,117 BTC. The latest addition comes less than three weeks after the company joined the S&P 500, becoming the second crypto-focused company to enter the benchmark U.S. stock index after Coinbase. Block officially replaced Hess Corp. before trading began on July 23 following Chevrons acquisition of the oil producer. Block continues adding to its Bitcoin treasury While the latest purchase amounts to only 85 BTC, it extends the companys long-running strategy of holding Bitcoin on its balance sheet alongside integrating the asset across several business lines. Block previously disclosed that it allocates 10% of the monthly gross profit generated from its Bitcoin-related products toward purchasing more Bitcoin. The company also open-sourced the framework behind that treasury strategy last year