Strategy (NASDAQ: MSTR ) may have created a capital structure problem that could hurt either Bitcoin (CRYPTO: BTC ), MSTR shareholders or preferred holders, according to a prominent industry expert. Strategy's Changing Risk Profile Speaking on Unchained's "Bits + Bips" podcast, Arca Chief Investment Officer Jeff Dorman said Strategy's decision to add large, preferred stock obligations has changed the risk profile around Michael Saylor 's Bitcoin strategy. Strategy recently disclosed it sold 32 Bitcoin at the end of May for roughly $2.5 million, marking a notable shift for a company long known as one of Bitcoin's most aggressive buyers. Dorman said the sale itself was small, but ... Full story available on Benzinga.com