Bitcoin price meltdown leaves these public pensions down 60% on Strategy bets

US pension funds that bet on Strategy find themselves nursing some heavy losses as share prices for Michael Saylor’s firm continue to slide. The 11 funds collectively hold nearly 1.8 million shares of Strategy, now worth about $240 million, down from $577 million when they first reported their allocations. That’s $337 million in paper losses so far, according to research platform Fintel. Moreover, 10 out of the 11 funds are down 60% on their Strategy stock buys. Strategy’s shares have lost 67% of their ...