CalPERS Trims Bitcoin Exposure Through Reduced Stake in Strategy

CalPERS, the largest public pension fund in the US, has trimmed its stake in Strategy (NASDAQ: MSTR), valued at approximately $35.5 million. This is a significant reduction from November, when the fund held 448,000 shares worth about $80 million.

The California Public Employees' Retirement System manages roughly $637 billion in assets and serves over two million public employees, retirees, and other members. Its position in Strategy reflects a cautious but continued interest in cryptocurrency-related equities.

This move comes at a time when institutional interest in Bitcoin has been uneven. While some pension funds have increased allocations to crypto-related assets, others have remained cautious due to regulatory uncertainty and price volatility.