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

On Friday, stocks linked to cryptocurrency experienced a surge, driven by a sharp increase in digital asset treasury firms that had previously been underperforming, as progress towards ending the conflict in Iran led to a boost in risk assets, causing bitcoin to reach a two-month high of $78,000. President Trump stated in a post on Truth Social that Iran has committed to keeping the Strait of Hormuz open, which is a vital passage for global energy markets. Trump added that peace talks between the two countries are progressing, and reports of the US considering the release of $20 billion in Iranian assets further improved sentiment. As a result, crude oil prices plummeted by 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 is a significant risk-on signal for global markets, and by removing this geopolitical chokepoint, Iran has effectively triggered a massive wave of liquidity and investor confidence. Mena also noted that with oil prices dropping below $85 for the first time in a month, concerns about inflation may finally subside. Bitcoin broke out of its two-month range, reaching $78,000 and increasing by 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 experiencing gains of 4%-5%. In terms of crypto-related equities, the biggest winners were crypto treasury firms, which had been heavily impacted in recent months. Trump-family-backed American Bitcoin jumped over 21%, while Strategy surged 13%. Strive and ProCap added around 10%-11% as investors rotated back into high-beta bitcoin exposure. Similar moves were seen in altcoin-linked equities, with Forum Markets climbing 19% and Solana-linked names like Solmate and Upexi gaining 12%-11%. Other digital asset-related stocks also advanced, including Coinbase, which rose over 6%, Galaxy, which gained 8%, and Bullish, which increased by 4.5%. The Nasdaq and S&P 500 also experienced gains, each rising by about 1.4% to new record levels.