According to data shared by former BitMEX CEO Arthur Hayes, CRCL has surged nearly 472% relative to Bitcoin when indexed to its IPO date.
The rally comes as Circle’s share price jumped from its $31 IPO price to almost $200, lifting its market valuation to roughly $45 billion. This performance reflects growing investor confidence in the stablecoin issuer, especially following favorable regulatory developments in the US.=
Mid-June marked a turning point for CRCL after the US Senate approved the GENIUS Act. The legislation proposes a federal framework for US dollar-backed stablecoins, potentially providing regulatory clarity that could benefit firms like Circle, the issuer of the USDC stablecoin.
While CRCL has seen parabolic growth, Bitcoin has struggled to maintain momentum. The top crypto mostly traded sideways through June and briefly dipped below $100,000 as geopolitical concerns between Iran and Israel rattled global markets.
However, BTC’s price has since recovered, trading a little under 110,000 as of press time, based on CryptoSlate data.
Still, this stark contrast highlights the market’s appetite for regulated financial infrastructure tied to digital assets, especially under Donald Trump’s pro-crypto administration.
