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

A sharp 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 sent bitcoin to a two-month high of $78,000. In a recent post, U.S. 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 U.S. considering the unfreezing of $20 billion in Iranian assets and Trump's remarks on acquiring Iran's enriched uranium, further enhanced market sentiment. As a result, crude oil prices plummeted 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.' He added, 'By removing one of the most significant geopolitical chokepoints in the world, Iran has effectively uncorked a massive wave of liquidity and investor confidence.' With oil prices dropping below $85 for the first time in a month, concerns about inflation may finally subside. Bitcoin broke out from a two-month range, climbing to $78,000 and rising nearly 5% over the past 24 hours. This 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 also saw significant gains, particularly crypto treasury firms, which had been heavily impacted in recent months. Trump-family-backed American Bitcoin jumped over 21%, while Strategy surged 13%. Other notable gainers included Strive, ProCap, and altcoin-linked equities like Forum Markets, Solmate, and Upexi. Additionally, digital asset-related stocks such as Coinbase, Galaxy, and Bullish also advanced, with the Nasdaq and S&P 500 reaching new record levels.