The GENIUS Act Repriced Bitcoin's Monetary Premium: Analysis of Stablecoin Regulation Impact
By
Ravi Tanuku, Jesper Johansen, Francisco Rodrigues
Sesame, salt, and substance. A flagship bake.
Summary
Ravi Tanuku argues that the GENIUS Act, a U.S. stablecoin regulation bill, fundamentally repriced Bitcoin's monetary premium by legitimizing stablecoins as a competing form of digital money. While gold has outperformed Bitcoin significantly since mid-2025, the author contends this isn't due to typical cycle dynamics but rather a structural shift in how markets perceive Bitcoin's unique value proposition as decentralized digital money. The regulation of stablecoins under the GENIUS Act effectively reduced Bitcoin's scarcity premium by introducing regulated, fiat-backed digital dollars that compete for the same use cases.
Key quotes
· 3 pulledGold has outperformed Bitcoin by nearly 100% since July 18, 2025. Same macro environment. Opposite outcomes.
Bitcoin didn't break because of cycles, sentiment or quantum risk. It broke because the U.S. go
The usual explanations don't survive the simplest question: if this is just a cycle top, why is gold still working?
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