Bitcoin Price Surges to Over $80,000 Amid 'Project Freedom' Announcement

The price of Bitcoin has reached a new high of over $80,000 after President Trump announced 'Project Freedom', which aims to free cargo ships stranded in the Strait of Hormuz. This surge in Bitcoin's value has led to gains in various cryptocurrency-linked stocks.

Among these stocks, Circle Internet Group (CRCL), Coinbase Global (COIN), and Robinhood Markets have seen significant increases in their prices. CRCL rose by as much as 5.5%, while COIN was up 4.1%. Robinhood's stock also saw a gain of 3.38%.

Michael Saylor-backed Strategy (MSTR) and peer Strive were also in the green during pre-market trade, with MSTR's stock price rising by 3.32%. Vivek Ramaswamy-backed Strive saw its retail sentiment trend in 'bearish' territory over the past day.

President Trump announced 'Project Freedom' on Sunday through a Truth Social post. He stated that the operation is slated to start on Monday and will help 'free' cargo ships stranded in the Strait of Hormuz that belong to countries not involved in the Middle East conflict.