A general ansatz in Renormalization Theory, already established in many important situations, states that exponential convergence of renormalization orbits implies that topological conjugacies are actually smooth (when restricted to the attractors of the original systems). In this paper we establish this principle for a large class of bicritical circle maps, which are C 3 circle homeomorphisms with irrational rotation number and exactly two (non-flat) critical points. The proof presented here is an adaptation, to the bicritical setting, of the one given by de Faria and de Melo in [10] for the case of a single critical point. When combined with the recent papers [4,25], our main theorem implies C 1+α rigidity for real-analytic bicritical circle maps with rotation number of bounded type (Corollary 1.1).