BlockBeats news, on August 12, BTCS CEO Charles Allen stated, "Naked short selling is a predatory practice that manipulates the market by artificially increasing supply, lowering prices, and diluting the rights of legitimate shareholders. This behavior harms true long-term retail investors and must be stopped."
Today, we believe that short sellers are betting on a decline in BTCS stock prices, expecting us to irresponsibly sell billions of dollars worth of stock through an Automatic Shelf Registration (ATM), allowing them to repurchase at lower prices. As I mentioned earlier, my goal is to enhance market value through a rise in stock prices, rather than recklessly diluting shares."
BTCS Inc. (BTCS) currently holds 70,000 ETH, valued at approximately $299.4 million, with a 379.64% increase in holdings over the past 30 days.
