No, no... That's like saying "USD are denominated in EUR". (And let's be frank, we all know that USD is really denominated in CNY!)
APPL is denominated in USD.
SD is denominated in BTC.
You could buy oil with USD, but that doesn't mean that oil is also denominated in APPL.
Temperature is measured using several different metrics, mostly Fahrenheit, Celsius, and Kelvin. Likewise, wealth is measured by numerous yardsticks, primarily USD, EUR, JPY, etc. Bitcoins and dollars are simply different methods of measuring and tracking wealth.
Imagine a sponge in a swimming pool. The sponge absorbs 1% of the water in the pool. Now replace the pool with a lake; the sponge might hold only 0.01% of that water.
In the above example, the pool water is all the wealth in the Bitcoin system and the sponge is SD. The lake is the wealth in the USD economy. If Bitcoin and USD switch places, SD does not change - only its share of the overall economy does. So unless SD grows to maintain its proportion to the total amount of wealth in the system, the share price will decline relative to the metric - in our case, BTC.
Ask yourself whether a gambling site can comprise 10% of the Bitcoin economy for years when there are so many businesses jumping into the system.