U.S. stocks rose over 11% after hours, with market value increasing to $43.5 billion

ChainCatcher news, according to market news, U.S. stock Block (stock code: XYZ) rose over 11% after hours, with a market value increasing to $43.5 billion.

Earlier news indicated that Jack Dorsey's payment company will join the S&P 500 index.

According to previous reports, on May 3, 2024, Jack Dorsey's payment company announced its DCA (Dollar Cost Averaging) 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 gross profit from the 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 $24 million worth of Bitcoin to its balance sheet.

As of March 31, 2024, the company holds 8,038 Bitcoins on its balance sheet, accounting for approximately 9% of the total cash, cash equivalents, and marketable securities.