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

A sharp increase in crypto-linked stocks occurred on Friday, driven by digital asset treasury firms that had previously experienced significant losses, as progress towards resolving the Iran conflict boosted risk assets and pushed bitcoin to a two-month high of $78,000. President Trump stated on Truth Social that Iran had committed to keeping the Strait of Hormuz open, a crucial passage for global energy markets. His remarks, combined with reports of the US considering the release of $20 billion in Iranian assets and acquiring Iran's enriched uranium, further enhanced market sentiment. As a result, crude oil prices dropped 13% to nearly $80 per barrel. According to Matt Mena, a senior crypto research strategist, the reopening of the Strait of Hormuz serves as a risk-on signal for global markets, removing a significant geopolitical chokepoint and unleashing a wave of liquidity and investor confidence. Bitcoin's price surged to $78,000, breaking out of a two-month range, while major altcoins such as ether, Solana, and XRP experienced 4%-5% gains. The biggest winners among crypto-related equities were crypto treasury firms, with companies like American Bitcoin, Strategy, and Strive experiencing significant gains. Similar trends were observed in altcoin-linked equities, with companies like Forum Markets, Solmate, and Upexi posting substantial increases. Other digital asset-related stocks, including Coinbase, Galaxy, and Bullish, also advanced, with the Nasdaq and S&P 500 reaching new record levels.