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

A sharp increase in crypto-linked stocks was observed on Friday, driven by the recovery of digital asset treasury firms, as progress towards resolving the Iran conflict boosted risk assets and sent bitcoin to a two-month high of $78,000. US President Donald Trump announced in a Truth Social post that Iran had committed to keeping the Strait of Hormuz open, a crucial artery for global energy markets, and that peace talks between the countries were progressing. Reports of the US considering the unfreezing of $20 billion in Iranian assets and Trump's comments on acquiring Iran's enriched uranium further enhanced market sentiment. As a result, crude oil prices plummeted by 13% to nearly $80 per barrel, calming fears of a prolonged energy crisis. According to Matt Mena, senior crypto research strategist at digital 21shares, 'the reopening of the Strait of Hormuz is the risk-on signal the global markets have been waiting for.' The removal of this significant geopolitical chokepoint has led to a massive wave of liquidity and investor confidence, potentially bringing an end to inflation fears. Bitcoin surged to $78,000, breaking out of a two-month range, with major altcoins such as ether, Solana, and XRP also experiencing gains of 4%-5%. The biggest winners were crypto treasury firms, which had been heavily affected in recent months, with Trump-family-backed American Bitcoin jumping over 21% and Strategy surging 13%. Other digital asset-related stocks, including Coinbase, Galaxy, and Bullish, also advanced, with the Nasdaq and S&P 500 reaching new record levels.