If everyone was a speculator and no one actually used Bitcoin for commerce, I don't think that would be good
On the contrary, if everyone or almost everyone held their coins the value of bitcoin would skyrocket seeing as they were so rare. I think the best practice is to buy bitcoins back every time you spend them and choose to use bitcoin over over payment methods when available. Thus you get to hoard your stash but still help promote bitcoins usage as a currency too.