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 undervalued, as progress toward resolving the Iran conflict led to a boost in risk assets, causing bitcoin to reach a two-month high of $78,000. US President Donald Trump stated in a post on Truth Social that Iran had committed to keeping the Strait of Hormuz open, a crucial passage for global energy markets. Trump added that peace talks between the two countries were progressing, and reports of the US considering the unfreezing of $20 billion in Iranian assets, along with remarks about acquiring Iran's enriched uranium, further improved market sentiment. As a result, crude oil prices plummeted by 13% to nearly $80 per barrel. 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.' Mena explained that 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. The price of bitcoin climbed to $78,000, breaking out of a two-month range that had capped prices since early February, and increasing by nearly 5% over the past 24 hours. This move had a ripple effect across the broader cryptocurrency market, with major altcoins such as ether, Solana, and XRP experiencing 4%-5% gains. In the crypto-related equities sector, 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 trends were observed 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%. By the early afternoon on the East Coast, the Nasdaq and S&P 500 had each risen by approximately 1.4%, both reaching new record levels.