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Crypto proponent Andreas Antonopoulos claims that Bitcoin’s ideology is terrifying for Wall Street despite there are some burgeoning the Bitcoin futures market and with the level of interface, there is still a diametrically opposed ideology between the two. We are reading further in the latest bitcoin news.

In the recent interview, the Bitcoin advocate, Andreas Antonopoulos claims that Wall Street is afraid of Bitcoin as well as why their attempt to corner Bitcoin will only result in skyrocketing prices. Opening the discussion about the major differences between Bitcoin and Wall Street, Alex Saunders of Nugget’s News raised the point that Wall Street tries to ‘’tame the beast’’ and bring it into the fold to which Andreas replied:

 “Let them try…Here’s the interesting thing, the idea of open competition and open markets actually terrifies financial services companies. Financial services companies are absolutely terrified of capitalism.”

He then expanded his statements by pointing out the often overlooked detail which is regulation is contrary to capitalism. Wall Street has reaped the benefits of decades of favorable governance up to this moment:

 “They have got accustomed to working in this strictly controlled regulatory environment where they don’t get any competition. Unless that competition is approved by regulators, forced to compete at their scale, and follow the same rules. And is therefore defanged and not disruptive. And anyone who doesn’t comply is sued, bought or extinguished until they comply…It’s a cosy parasitic oligopoly, a cartel basically. It doesn’t represent the free market at all.”

On that note, the Bitcoin advocate remained confident that Bitcoin is much more superior and will win the battle of becoming a better system. In terms of the threat posed by Wall Street, Andreas believes that any attempt to purchase all of the Bitcoin coins will result in boosting the price of the altcoin:

 “What will happen is, they will try to buy it. I’m not selling, are you selling Alex? So what happens then? The price goes up, and now I’m not selling even more. So now they’re throwing more and more worthless fiat at less and less very, very, very worthy crypto that has limited supply. And all they’re achieving is driving up the price, and not buying up all of the crypto.”