BTCS CEO: naked short selling must be stopped, with the goal of increasing market value through rising stock prices rather than diluting shares

BlockBeats News: On August 12th, Charles Allen, CEO of BTCS, a US listed company, issued a statement stating that "naked short selling is a predatory behavior that manipulates the market by artificially increasing market supply, lowering prices, and diluting legitimate shareholder rights. This behavior harms true long-term individual investors and must be stopped. Nowadays, we believe that short sellers are betting on a decline in the stock price of BTCS, and expect us to irresponsibly sell billions of dollars worth of stocks through the Automated Share Sale (ATM) program, allowing them to repurchase at a low price. As I mentioned before, my goal is to increase market value through rising stock prices, rather than recklessly diluting shares. '' BTCS Inc. (BTCS) currently holds 70000 ETH worth approximately $299.4 million, with a 379.64% increase in holdings over the past 30 days.