According to Insidebitcoins, the California Public Employees’ Retirement System (CalPERS), the largest US pension fund, has incurred an unrealized loss of $64 million on its investment in Michael Saylor’s Bitcoin treasury firm, Strategy (MSTR). The pension fund acquired 448,157 MSTR shares in the third quarter for $144 million, but the value of the stake has dropped to $80 million as shares have fallen nearly 45% this quarter. The decline comes amid growing concerns over MSTR’s potential delisting from MSCI indexes due to its heavy exposure to crypto assets.
CalPERS Loses $64M on Michael Saylor’s Strategy Amid MSTR Share Plunge
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