Peak Bitcoin Fears Confront GENIUS Act and Balance-Sheet Bulls

The GENIUS Act pulls bitcoin further into the regulatory perimeter through its treatment of bitcoin-backed stablecoin reserves, but it does not solve the underlying volatility problem.Strategy (the former MicroStrategy), Block and Tesla now carry sizable bitcoin positions on their balance sheets, leaving earnings exposed to rapid revaluation.Bitcoin’s price has tumbled from record highs above $125,000 in early October to the low-$80,000s, erasing months of gains and sparking “peak bitcoin” fears.Through mid ...