What risks? I haven't read any valid reason why this would be risky.
Strategy is overcollateralized and they manage to maintain a reasonable level of leverage.
Once all financial institutions adopt this approach (they will have no choice because of game theory), the systemic risk on bitcoin due to a potential default will disappear.
I think we are in this situation where it's too good to be true and most people are dismissing the idea without even understanding it fundamentally.
