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But most people still choose to invest in Bitcoin.
What's your basis for saying
most? If you're basing it on the price, we could say that people with deeper pockets just continue to top up their BTC holdings. If your basis is on the number of wallets holding BTC, there are probably more wallets holding ETH, BNB, or other major alts.
Because of the value of Bitcoin, people will hoard it,
On the contrary, people will choose other cryptocurrencies because it's cheaper than BTC in the hopes that it will also rise in value.
I believe "value" in the op is referring to the underlying value of an asset and not merely it's dollar equivalent.~
That's still unclear at the moment. It would be good if OP comes back and clarify that.