Digital Asset Treasury Firms Lead Cryptocurrency Stock Surge as Bitcoin Reaches $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 pushed bitcoin to a two-month high of $78,000. US President Donald Trump announced that Iran has committed to keeping the Strait of Hormuz open, a crucial passage for global energy markets, and that peace talks between the countries are progressing. The news, combined with reports of the US considering unfreezing $20 billion in Iranian assets and acquiring Iran's enriched uranium, further lifted sentiment. As a result, crude oil prices dropped 13% to near $80 per barrel. According to Matt Mena, a senior crypto research strategist, the reopening of the Strait of Hormuz is a significant risk-on signal for global markets, removing a major geopolitical chokepoint and unleashing a wave of liquidity and investor confidence. Bitcoin's price climbed to $78,000, breaking out from a two-month range, while major altcoins such as ether, Solana, and XRP posted 4%-5% gains. The move also boosted crypto-related equities, with crypto treasury firms being the biggest winners, including Trump-family-backed American Bitcoin, which jumped over 21%, and Strategy, which surged 13%. Other digital asset-related stocks, such as Coinbase, Galaxy, and Bullish, also advanced, with the Nasdaq and S&P 500 reaching new record levels.