top cap bolt that doesnt unscrew

the top cap bolt on my bmx doesn't unscrew, it turns, but just doesnt come out, is this because the thread is knackerd? and how the f*ck do i get the dang thing out?? its 1 of the ones you can put your brake cable through not just a normal allen key one iff that helps
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So drilling it out may not be an option.
However, if you manage to get the bolt out and the threads are knackered you could always run a headlock.
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