California's largest pension fund, the Public Employees' Retirement System, has expanded its MicroStrategy position following a fresh buy of 22,475 shares in mid-February. The move brings the fund's total stake in the bitcoin treasury company to approximately 470,632 shares, translating to roughly $59 million in market value. With CalPERS overseeing over $611 billion in assets under management, this strategic accumulation of MSTR positions underscores growing institutional appetite for companies embracing cryptocurrency treasury strategies. The uptick reflects confidence among major institutional investors in MicroStrategy's bitcoin-centric business model and its potential as a long-term store of value hedge against traditional financial assets.