BlockBeats news, on August 12, BTCS CEO Charles Allen stated, "Naked shorting is a predatory practice that manipulates the market by artificially increasing supply, driving down prices, and diluting the rights of legitimate shareholders. This behavior harms genuine long-term retail investors and must be stopped. Today, we believe short sellers are betting on a decline in BTCS's stock price, expecting that we will irresponsibly sell billions of dollars worth of stock through an automatic selling plan (ATM), allowing them to buy back at a lower price. As I mentioned before, my goal is to increase market capitalization through a rise in stock price, not to recklessly dilute shares." BTCS Inc. (BTCS) currently holds 70,000 ETH, valued at approximately $299.4 million, with a 30-day increase in holdings of 379.64%.
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BTCS CEO: We must stop naked short selling, aiming to enhance market capitalization through stock price pump rather than diluting shares.
BlockBeats news, on August 12, BTCS CEO Charles Allen stated, "Naked shorting is a predatory practice that manipulates the market by artificially increasing supply, driving down prices, and diluting the rights of legitimate shareholders. This behavior harms genuine long-term retail investors and must be stopped. Today, we believe short sellers are betting on a decline in BTCS's stock price, expecting that we will irresponsibly sell billions of dollars worth of stock through an automatic selling plan (ATM), allowing them to buy back at a lower price. As I mentioned before, my goal is to increase market capitalization through a rise in stock price, not to recklessly dilute shares." BTCS Inc. (BTCS) currently holds 70,000 ETH, valued at approximately $299.4 million, with a 30-day increase in holdings of 379.64%.