Bitcoin Slides Below $80K as Trump Trust Buys Crypto Stocks, Mubadala Adds $566M IBIT Stake
Bitcoin fell below $80,000 at the Friday Wall Street open as a sharp move higher in long-dated US Treasury yields triggered a broad risk-asset sell-off. Bitcoin posted roughly 3% in daily losses, drifting toward the lowest levels seen so far in May, while US equities surrendered fresh record highs from earlier in the week. The 10-year Treasury yield pushed above 4.55% for the first time since May 2025, a threshold previously associated with policy stress. Rate-cut probabilities collapsed in futures markets, with traders now pricing in a meaningful chance the Federal Reserves next move could be a hike rather than a cut. Abu Dhabi‘s sovereign wealth fund Mubadala disclosed a 16% increase in its position in BlackRock’s iShares Bitcoin Trust during the first quarter of 2026, lifting holdings to 14.72 million shares worth roughly $565.6 million as of March 31. The accumulation streak now spans five consecutive quarters, dating back to Q4 2024. Combined with sister vehicle Al Warda Investments under the Abu Dhabi Investment Council, the emirates exposure to the spot Bitcoin ETF sits above $1 billion. The disclosure underscores how Gulf sovereign capital is steadily routing crypto allocations through regulated US wrappers rather than direct custody. Newly released US Office