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

A significant surge in crypto-linked stocks occurred on Friday, driven by the rebound of digital asset treasury firms, as progress towards resolving the Iran conflict boosted risk assets and propelled bitcoin to a two-month high of $78,000. President Trump stated on Truth Social that Iran has committed to keeping the Strait of Hormuz open, a vital passage for global energy markets. This development, combined with 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 dropped 13% to nearly $80 per barrel. 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, unlocking a massive wave of liquidity and investor confidence. Bitcoin's price rose to $78,000, breaking out of a two-month range, while major altcoins such as ether, Solana, and XRP posted gains of 4-5%. The biggest winners among crypto-related equities were crypto treasury firms, which had previously been heavily impacted. Stocks such as American Bitcoin, Strategy, Strive, and ProCap saw significant increases, with investors rotating back into high-beta bitcoin exposure. Similar trends were observed in altcoin-linked equities, with companies like Forum Markets, Solmate, and Upexi experiencing substantial gains. Other digital asset-related stocks, including Coinbase, Galaxy, and Bullish, also advanced, with the Nasdaq and S&P 500 reaching new record levels.