Block adds 103 Bitcoin, treasury rises to 9, 117 BTC after S&P 500 entry
Block added another 103 Bitcoin to its treasury, pushing its reported holdings to 8, 883 BTC, according to BitcoinTreasuries.net. The move comes less than three weeks after Jack Dorsey’s company joined the S&P 500, a milestone that gives the company more Wall Street legitimacy while it keeps doing the very un-Wall Street thing of stacking Bitcoin.
- Block added 103 BTC to its treasury
- Reported holdings now stand at 8, 883 BTC
- Block entered the S&P 500 on July 23
- Strategy is using a much more complex BTC-and-capital-markets playbook
BitcoinTreasuries.net said the update came from Block’s latest SEC filing. The tracker reported that Block’s holdings rose from 8, 780 BTC to 8, 883 BTC, with 2025 additions so far totaling 398 BTC at a cost of $41.1 million. It also noted that Block holds another 238 BTC, valued at about $20 million, for operational purposes, mainly to support Cash App customer activity.
That distinction matters. Treasury Bitcoin is the long-term reserve pile. Operational Bitcoin is used to support customer transactions and related product flows. Lumping them together makes for tidy headlines, but it muddies what the company is actually doing.
Block is not just a company that owns Bitcoin. It has built Bitcoin into parts of its business through Cash App, Bitkey, and Proto, alongside its broader fintech operations. That makes its treasury posture more interesting than a one-off balance sheet bet. It is part reserve strategy, part product strategy, and part statement of intent.
The company has previously said it allocates 10% of the monthly gross profit generated from its Bitcoin-related products to buy more Bitcoin, and it open-sourced that treasury framework last year. In plain English, Block has put a standing rule in place instead of treating BTC purchases as a marketing stunt or a one-time flex.
The S&P timing adds another layer. S&P Global said Block would replace Hess Corp. effective before trading on July 23, following Chevron’s acquisition of Hess. That made Block one of the few companies in the index with major Bitcoin exposure, alongside Coinbase if you want to define “crypto-focused” broadly. Either way, the optics are clear: Bitcoin is no longer stuck in the weird corners of public markets.
Block was founded in 2009 as Square and rebranded to Block in December 2021. Since then, Bitcoin has stayed central to the company’s identity, not just as something it holds, but as something it integrates into products, infrastructure, and corporate strategy. That does not make the thesis immune to risk. Bitcoin treasury holdings can help with branding and long-term alignment, but they also expose a company to price swings, scrutiny, and the usual corporate ethics theater whenever the market gets nervous.
For the cleanest comparison, Block is accumulating Bitcoin through a stated policy. Strategy is doing something else entirely: using Bitcoin plus capital markets machinery to manage liquidity, obligations, and reserve levels.
Strategy’s latest SEC filing confirmed it sold 1, 638 BTC between July 27 and Aug. 2 for $104.73 million. The same filing said the company directed $52.4 million toward STRC preferred-stock dividends and $52.3 million to repurchase STRC shares. It also raised $290.6 million through MSTR common stock sales during the period.
Strategy said it expanded its U.S. dollar reserve to about $4 billion. Michael Saylor said the added liquidity extended the company’s funding runway by roughly 57 days. That is a very different setup from Block’s steadier accumulation model. It is less “stack and wait, ” more “manage the machine so it keeps running.”
On Aug. 5, Lookonchain reported wallets associated with Strategy transferred another 1, 030 BTC worth roughly $66.14 million. But onchain movement alone does not prove a sale, and neither Strategy nor any SEC filing confirmed that this transfer was one. Blockchain data is useful, but it is not a confession letter.
That contrast is the real point here. Block appears to be deepening a straightforward Bitcoin treasury policy tied to its products and operations. Strategy is using Bitcoin as part of a broader financing framework that can involve sales, preferred stock, common stock issuance, and a growing dollar reserve. Same asset, very different game plan.
For Bitcoin supporters, Block’s continued accumulation is another sign that corporate adoption is not a fad reserved for a couple of loud balance sheet maximalists. For skeptics, it is a reminder that treasury Bitcoin is not free money or magic internet reserves; it is a volatile asset choice that depends heavily on management judgment. Both readings have merit.
What makes Block notable is not just that it bought more Bitcoin. It is that a company now sitting inside the S&P 500 still sees Bitcoin as part of its treasury, its products, and its future, while the rest of corporate crypto keeps showing just how different “holding Bitcoin” can mean from one boardroom to the next.
Key takeaways
- Why did Block buy more Bitcoin?
Block has a stated policy of using a portion of monthly gross profit from its Bitcoin-related products to buy more BTC. The latest increase fits that long-running framework. - How much Bitcoin does Block actually hold?
BitcoinTreasuries.net says Block’s reported treasury holdings are 8, 883 BTC, plus another 238 BTC held operationally for Cash App-related activity. - Why does S&P 500 inclusion matter?
It boosts visibility, can attract passive index-fund demand, and signals mainstream public-market status. It does not mean the company’s Bitcoin strategy is automatically smart or safe. - Is Block doing the same thing as Strategy?
No. Block appears to be steadily accumulating Bitcoin through a standing policy, while Strategy is using Bitcoin alongside preferred stock, common stock sales, and dollar reserves to manage liquidity and obligations. - Does an onchain transfer prove a Bitcoin sale?
No. Onchain transfers show movement on the blockchain, but they do not prove ownership change or a sale unless a filing or official statement confirms it.
Further reading
A few related filings and pieces on corporate Bitcoin treasuries for anyone tracking where the real stacking is happening.
- Block Inc. expands Bitcoin treasury to 8, 883 BTC in latest update
- BTM 10-K filing
- STRC scaled to an aggregate stated amount of $3.4 billion
- Bitcoin Treasury Boom: Blockware predicts 36 more companies
- Strategy raises $2.0 billion in convertible notes to boost Bitcoin holdings
- MicroStrategy’s 94% Bitcoin treasury dominance in March
