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

A surge in crypto-linked stocks occurred on Friday, driven by a sharp increase in digital asset treasury firms, as progress towards ending the Iran conflict boosted risk assets and propelled bitcoin to a two-month high of $78,000. US President Donald Trump announced in a social media post that Iran had committed to keeping the Strait of Hormuz open, a crucial passage for global energy markets. The US is also considering unfreezing $20 billion in Iranian assets and acquiring its enriched uranium, which further boosted market sentiment. As a result, crude oil prices dropped 13% to near $80 per barrel. The reopening of the Strait of Hormuz has sent a risk-on signal to global markets, according to Matt Mena, a senior crypto research strategist. This has removed a significant geopolitical chokepoint, unleashing a wave of liquidity and investor confidence. With oil prices plummeting below $85 for the first time in a month, inflation fears may finally subside. Bitcoin broke out from a two-month range, climbing to $78,000 and sparking a rally in major altcoins such as ether, Solana, and XRP. Crypto-related equities, particularly crypto treasury firms, experienced significant gains, with some companies jumping over 20%. The rally also extended to altcoin-linked equities, with Ethereum-focused firms and Solana-linked names posting double-digit gains. Other digital asset-related stocks, including Coinbase and Galaxy, also advanced, with the Nasdaq and S&P 500 reaching new record levels.