Coinbase and Block Inc. Lead Crypto Mainstream Adoption as MicroStrategy Bolsters Bitcoin Holdings

In a landmark week for cryptocurrency adoption, Block Inc., the fintech firm led by Jack Dorsey, is set to join the S&P 500 index—becoming only the second crypto-native company after Coinbase to achieve this milestone. This development underscores the accelerating integration of digital assets into traditional finance. Meanwhile, Michael Saylor's MicroStrategy has further cemented its position as the largest corporate Bitcoin holder, adding 6,220 BTC to its treasury in a $739.8 million purchase. The company now holds an unprecedented 607,770 Bitcoin, demonstrating unwavering institutional confidence in BTC as a reserve asset. These parallel developments highlight how cryptocurrency firms are achieving mainstream recognition while established players double down on Bitcoin's long-term value proposition. The moves come amid growing anticipation for broader institutional adoption, with both events serving as bullish indicators for the sector's maturation. As of July 2025, these strategic maneuvers reflect an industry transitioning from niche to normalized within global financial infrastructure.

Block Joins S&P 500 With BTC Strategy in Focus – Bitcoin Hyper Gains as Crypto Firms Go Mainstream

Michael Saylor's MicroStrategy has added 6,220 BTC to its holdings, now totaling 607,770 Bitcoin. The $739.8 million purchase underscores institutional confidence in Bitcoin as a treasury asset.

Block Inc., Jack Dorsey's fintech firm, will join the S&P 500 this week—marking the second crypto-native company after Coinbase to enter the index. The move signals deepening integration between crypto and traditional finance.

Block has systematically embedded bitcoin into its ecosystem through Cash App integrations, a self-custody wallet, and open-source development funding. The firm holds 8,500 BTC and allocates 10% of monthly Bitcoin profits to additional purchases.

Retail interest is shifting toward high-growth layer-2 solutions, with one project nearing $4 million in presale funding. The dual developments of corporate accumulation and infrastructure innovation highlight crypto's maturing market structure.

Over $3.4 Billion in Ethereum Permanently Lost Due to Errors and Bugs

More than 913,111 ETH, valued at approximately $3.43 billion, has been irretrievably lost due to user mistakes and smart contract vulnerabilities. This represents over 0.76% of Ethereum's circulating supply, according to Coinbase director Conor Grogan.

The losses stem from high-profile incidents, including a 306,000 ETH loss by the Web3 Foundation from a Parity multisig wallet flaw and 60,000 ETH lost by defunct exchange QuadrigaCX. NFT project Akutars accidentally burned 11,500 ETH during a failed minting process, while users sent 25,000 ETH directly to burn addresses.

Grogan notes these figures are conservative, excluding potential losses from misplaced private keys or dormant Genesis wallets. The total impact grows significantly when considering ETH permanently removed via EIP-1559's burn mechanism.