Investing.com -- Crypto-linked stocks rallied Friday as Bitcoin extended its climb to levels not seen since late May, after President Trump called on lawmakers to pass clear regulatory rules for digital assets.

By 05:11 ET (09:11 GMT) in U.S. premarket trading, Strategy was up 10.2%, Coinbase rose 6.8%, and Circle Internet Group added 6.4%. Also, MARA Holdings climbed 5.4%, Galaxy Digital rose 5%, Robinhood Markets gained 4.7%, Hut 8 advanced 2.4%, and Riot Platforms rose 3.7%.

The moves tracked a broader surge in Bitcoin, which jumped 8.9% to $78,135.60, briefly touching an intraday high of $79,600.60. The largest cryptocurrency has broken out of the roughly $60,000-to-$70,000 range that held for most of 2026.

The rally was also supported by a broader lift in risk appetite after the U.S. Treasury Department said it would double its bond buybacks in an effort to contain rising yields. The Treasury’s decision to expand buyback sizes for longer-duration debt followed a sharp bond selloff that drove the 30-year yield to its highest level since 2007.

Rising yields tend to weigh on risk assets like cryptocurrencies, since they make safer investments more attractive by comparison. Though the intervention was modest in scale and its effect on bonds proved short-lived, it still sent a favorable signal to crypto markets.

The advance was set in motion earlier this week when Trump, speaking at a White House summit, urged Congress to advance the Clarity Act, closely watched legislation aimed at establishing a regulatory framework for the U.S. crypto industry.

It remains unclear when, or if, the bill will pass. The Clarity Act has stalled repeatedly in Congress amid disagreements over how it classifies cryptocurrencies and how it treats yields earned on stablecoins.

“If Congress gets market structure done and the regulators keep moving in this direction, then you will see an enormous amount of development and capital come back to the U.S. Bitcoin benefits from that, but the opportunity is much bigger," - Todd Ault, founder of Ault Blockchain, told Investing.com.