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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
Just shy of the $4,891 ATH—think it breaks through?
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Dare to trade. Dare to win.
BTCS CEO condemns naked short selling, insists on not diluting shares, Holdings of 70,000 ETH with a market capitalization of nearly 300 million USD.
[Bitu] Charles Allen, CEO of the US-listed company BTCS, stated that naked short selling is a predatory behavior that manipulates the market by artificially increasing supply, lowering prices, and diluting the rights of legitimate shareholders. This behavior harms real long-term retail investors and must be stopped.
Nowadays, we believe that short sellers are betting on a decline in BTCS stock prices, expecting that we will irresponsibly sell billions of dollars worth of stock through an Automatic Teller Machine (ATM) plan, allowing them to buy back at a lower price. As I mentioned earlier, my goal is to enhance market value through rising stock prices, rather than recklessly diluting shares.
BTCS Inc. (BTCS) currently holds 70,000 ETH, worth approximately $299.4 million, with a 30-day increase in holdings of 379.64%.