Digital Asset Treasury Firms Lead Crypto Stock Surge as Bitcoin Reaches $78,000

A significant rally in digital asset treasury firms sparked a surge in crypto-linked stocks on Friday, driven by optimism over the potential resolution of 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 had committed to keeping the Strait of Hormuz open, a crucial passage for global energy markets, and revealed that the US planned to acquire Iran's enriched uranium as part of a deal. This development, combined with reports of the US considering the unfreezing of $20 billion in Iranian assets, further improved market sentiment. As a result, crude oil prices plummeted by 13% to near $80 per barrel, calming fears of a prolonged energy crisis. According to Matt Mena, a senior crypto research strategist at Digital 21shares, the reopening of the Strait of Hormuz serves as a 'risk-on signal' for global markets, unleashing a wave of liquidity and investor confidence. Bitcoin's price climbed to $78,000, breaking out of a two-month range, while major altcoins such as ether, Solana, and XRP saw gains of 4%-5%. The surge also extended to crypto-related equities, with crypto treasury firms experiencing significant gains, including a 21% jump in American Bitcoin and a 13% surge in Strategy. Other digital asset-related stocks, such as Coinbase, Galaxy, and Bullish, also saw advances, with the Nasdaq and S&P 500 reaching new record levels.