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

A sharp upswing in crypto-linked stocks occurred on Friday, driven by a rebound in digital asset treasury firms, as advancements in ending the Iran war positively impacted risk assets and propelled bitcoin to a two-month high of $78,000. U.S. President Donald Trump announced in a post that Iran is committed to maintaining the Strait of Hormuz's openness, 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 boosted market sentiment. As a result, crude oil prices plummeted by 13% to nearly $80 per barrel, alleviating concerns about a prolonged energy crisis. According to Matt Mena, a senior crypto research strategist, the reopening of the Strait of Hormuz is a significant risk-on signal for global markets, as it removes a major geopolitical chokepoint and unleashes a massive wave of liquidity and investor confidence. The price of bitcoin rose to $78,000, breaking out of a two-month range, and major altcoins such as ether, Solana, and XRP saw gains of 4%-5%. The biggest winners among crypto-related equities were crypto treasury firms, which had been heavily affected in recent months. Stocks such as American Bitcoin, Strategy, Strive, and ProCap saw significant increases, while altcoin-linked equities like Forum Markets, Solmate, and Upexi also experienced 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.