Cryptocurrency-related stocks surged and Bitcoin prices rose on Friday, led by a surge in battered digital asset finance companies as progress towards ending the war with Iran jolted risk assets to a two-month high of $78,000.
U.S. President Donald Trump said in a Truth Society post that Iran is committed to keeping the Strait of Hormuz open, a vital artery for global energy markets.
“Iran just announced that the Straits… are fully open and ready for full passage,” Trump said in a Truth Society post, adding that peace talks between the two countries were making progress. There are reports that the United States is considering unfreezing $20 billion in Iranian assets, and Trump’s remarks about acquiring Iran’s enriched uranium further boosted market sentiment.
Crude oil prices fell 13% to near $80 a barrel as headlines eased concerns about long-term energy shocks.
risk signal
Matt Mena, senior cryptocurrency research strategist at digital 21shares, said: “The reopening of the Strait of Hormuz is the risk signal that global markets have been waiting for.”
“By removing one of the world’s most important geopolitical bottlenecks, Iran has effectively unleashed massive liquidity and investor confidence,” he added. “With oil prices falling below $85 for the first time in a month, inflation concerns may finally be over.”
Bitcoin The price climbed to $78,000, breaking out of a two-month price range dating back to early February and gaining nearly 5% in the past 24 hours.
The move sent broader cryptocurrency prices higher, with major altcoins Ethereum (ETH), Solana (SOL) and XRP (XRP) rising 4%-5%.
Looking at crypto-related stocks, the biggest winners are crypto vault companies — companies that hold digital assets on their balance sheets — which have been hammered in recent months.
Trump family-backed American Bitcoin (ABTC) is up more than 21%, while Strategy (MSTR) is surging 13%. Strive (ASST) and ProCap (BRR) are up around 10%-11% as investors pivot back to high-beta Bitcoin investments.
Altcoin-related stocks have seen similar moves. Forum Markets (FRMM), an Ethereum-focused financial firm turning to tokenization, is up 19%, while Solana-related companies such as Solmate (SLMT) and Upexi (UPXI) are up 12%-11%.
Other digital asset-related stocks also rose: Coinbase (COIN) rose more than 6%, Galaxy (GLXY) rose 8%, and Bullish (BLSH) rose 4.5%.
Just after midday on the East Coast, the Nasdaq and S&P 500 were both up about 1.4%, both jumping to new records.
