Block's stock rose over 11% after hours in the US market, with a market capitalization of 43.5 billion USD.

BlockBeats news, on July 19, U.S. stock Block (stock code: XYZ) rose over 11% in after-hours trading, with a market capitalization increasing to $43.5 billion. Previously reported, Jack Dorsey's payment company Block will join the S&P 500 index. Earlier reports indicated that on May 3, 2024, Jack Dorsey's payment company Block announced its DCA (Auto-Invest) plan for Bitcoin, under which Block will use 10% of the monthly gross profit from its Bitcoin Conversions Product to purchase Bitcoin for investment. Previous data showed that Block's gross profit from Bitcoin Conversions Product in the first quarter was $80 million. If this profit level can be sustained for the remainder of the year, the company under this plan will add another $24 million worth of Bitcoin to its balance sheet. As of March 31, 2024, Block held 8,038 Bitcoins on its balance sheet, accounting for approximately 9% of Block's total cash, cash equivalents, and marketable securities.