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

A significant rally in crypto-linked stocks occurred on Friday, driven by a rebound in digital asset treasury firms, as the prospect of an end to the Iran war boosted risk assets, causing bitcoin to reach 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 artery for global energy markets, in a post on Truth Social. Reports of the US considering unfreezing $20 billion in Iranian assets and Trump's comments on acquiring Iran's enriched uranium further improved sentiment. As a result, crude oil prices plummeted 13% to near $80 per barrel. The reopening of the Strait of Hormuz has been seen as a risk-on signal for global markets, according to Matt Mena, a senior crypto research strategist at Digital 21shares. By removing a significant geopolitical chokepoint, Iran has effectively triggered a massive wave of liquidity and investor confidence, which may finally bring an end to inflation fears. 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, particularly crypto treasury firms, which had been heavily affected in recent months, were the biggest winners. Trump-family-backed American Bitcoin jumped over 21%, while Strategy surged 13%. Other digital asset-related stocks, including Coinbase, Galaxy, and Bullish, also advanced, with the Nasdaq and S&P 500 reaching new record levels.