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

A significant 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 propelled bitcoin to a two-month high of $78,000. President Trump stated in a social media post that Iran has committed to maintaining the Strait of Hormuz's openness, a crucial artery for global energy markets. The US president also mentioned that peace talks between the countries are advancing, with reports suggesting the US may unfreeze $20 billion in Iranian assets and acquire Iran's enriched uranium, further bolstering sentiment. As a result, crude oil prices plummeted 13% to near $80 per barrel. According to Matt Mena, a senior crypto research strategist, the reopening of the Strait of Hormuz is a 'risk-on signal' that the global markets have been waiting for, removing a significant geopolitical chokepoint and unleashing a massive wave of liquidity and investor confidence. Bitcoin broke out from a two-month range, climbing to $78,000 and rising nearly 5% over the past 24 hours. The move had a ripple effect on the broader cryptocurrency market, with major altcoins such as ether, Solana, and XRP posting 4%-5% gains. Crypto-related equities, particularly crypto treasury firms, which had been heavily battered in recent months, were the biggest winners. Trump-family-backed American Bitcoin jumped over 21%, while Strategy surged 13%. Other notable gainers included Strive, ProCap, Forum Markets, Solmate, and Upexi, with Coinbase, Galaxy, and Bullish also advancing. The Nasdaq and S&P 500 closed at record levels, each rising by about 1.4%.