Keep some and spend some. That should be our motto here to make bitcoin more inviting to everyone. Merchants or even investors. Even those online shops would open up a bitcoin paying method if they would see it could really be used as transaction method.
Yeah we can see higher number of merchants accepting bitcoins only if they see descent traffic on their shops from the people who are willing to spend their bitcoins, if no one will prefer to spend them then I don't think we will find many shops where we can use bitcoins for making purchases and more shops will attract more people to start knowing bitcoins.
I think almost bitcoin users is choosing to hold their bitcoin instead of spending it.. but it depends of the adoption if more merchant and shops are accepting bitcoin as payment.. for me i am spending my bitcoin but sometimes if i needed i bought domain already and hosting and spend it to buy some things from amazon via purse.io and its fine.. well i am still not satisfied because they are few shops and merchant are accepting bitcoin but i hope maybe in the future more merchant can bitcoin be acceptable..