The California Public Employees' Retirement System (CalPERS) acquired 448,157 shares of MicroStrategy (MSTR) in the third quarter, with an investment exceeding $144 million, according to recent SEC filings. However, the value of this holding has plummeted to approximately $80 million due to significant declines in cryptocurrency and high-volatility tech stocks, marking a loss of over 40% in just a few months.