Block Inc. could be the first company to join the S&P 500 with a Bitcoin strategy. The company meets six key criteria, including market cap, free float, and positive GAAP earnings, according to Matthew Sigel of VanEck.

Block’s strategic approach to Bitcoin investments sets it apart from other companies like Tesla. While Tesla owns Bitcoin, it doesn’t have a clear strategy, according to Sigel.

Financial firms make up about 14% of the S&P 500, suggesting that more could be added from the sector. Block’s inclusion could add to that diversity.

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