I don't think so they are idiots. They just want to be on the safer side and doesn't want to lose money. Very few people take risks on their investments, some make money and some disappear. So, as Bitcoin is in huge demand they want to hold for Long.
Long term investment must be limited to assets with extremely low risk, such as large-cap equities, bullion (gold, silver, platinum.etc) and treasury bonds. For a high risk asset such as Bitcoin, I would rather suggest short-term to medium-term investment. Please note that long-term investment in my opinion is any investment over 10 years in duration.