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

A significant surge in crypto-linked stocks occurred on Friday, driven by a sharp increase in digital asset treasury firms, as progress towards ending the Iran conflict boosted risk assets and sent 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. This development, combined with reports of the US considering the release of $20 billion in Iranian assets and Trump's remarks on acquiring Iran's enriched uranium, further lifted market 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 'risk-on signal' that the global markets have been waiting for, removing a significant geopolitical chokepoint and unleashing a wave of liquidity and investor confidence. With oil prices plummeting, inflation fears may finally subside. Bitcoin climbed to $78,000, breaking out of a two-month range, while major altcoins such as ether, Solana, and XRP posted 4%-5% gains. The move also rippled across 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.