I often think about the early adopters, the first bitcoin miners etc.

Not many of them actually held their coins until today, and the vast majority had to sell at least some coins to cover the electricity cost of running the miners themselves. As things progress so does your opinion of them.

Think about when bitcoin was $5 a piece... if you were mining you were happy with the profit you just received, after all, all you had to do was mine for it. Not many miners just sat there and stacked coins with anticipation that it'd be so highly priced today.

In that sense, it's not all that crazy to spend 10k btc on a pizza, it's only in hindsight that it "sounds" insane, but in reality, it was a fair priced trade for the time.

The same argument could be made if bitcoin really does go to 100k in the future... alll of the people selling right now because they are happy with their profits... it looks great right now, but wouldn't look so great in the future.

The opposite could be said as well, what if bitcoin goes ot $500 in the future... yet you are holding until the moon...