Digital Asset Treasury Firms Lead Crypto Stock Rally as Bitcoin Surges to $78,000

A sharp rally in digital asset treasury firms led the surge in crypto-linked stocks on Friday, driven by progress in ending the Iran conflict, which boosted risk assets and sent bitcoin soaring to a two-month high of $78,000. US President Donald Trump announced that Iran had committed to keeping the Strait of Hormuz open, a crucial artery for global energy markets, and that peace talks were progressing. Reports of the US considering unfreezing $20 billion in Iranian assets and Trump's remarks on acquiring Iran's enriched uranium further lifted sentiment. As a result, crude oil prices tumbled 13% to near $80 per barrel. The reopening of the Strait of Hormuz has been seen as a risk-on signal for global markets, according to Matt Mena, a senior crypto research strategist. Bitcoin broke out of its two-month range, climbing to $78,000 and sparking gains across the broader cryptocurrency market, with major altcoins such as ether, Solana, and XRP posting 4-5% gains. Crypto-related equities also saw significant gains, with crypto treasury firms being the biggest winners. Trump-family-backed American Bitcoin jumped over 21%, while Strategy and Strive surged 13% and 10-11%, respectively. Similar moves were seen in altcoin-linked equities, with Forum Markets climbing 19% and Solana-linked names gaining 12-11%. Other digital asset-related stocks, including Coinbase, Galaxy, and Bullish, also advanced, with the Nasdaq and S&P 500 jumping to new record levels.