Because of the value of Bitcoin, people will hoard it
in fact since people started doing math that the bitcoin supplement would be small and the demand for bitcoin would be high and most very rich people would be buying bitcoin to make hodl in the long run people realized that bitcoin would increase a lot by price and with that they started to buy to make hodl. the problem is that a lot of people have also started to forget that they shouldn't do eternal hodl, they should also think about spending bitcoin when they make a profit.
Take me as an example. I will invest 20% of my salary in Bitcoin because I think Bitcoin is very valuable and I believe in Bitcoin, so I think Bitcoin is worth investing in.
I invest 100% of everything I have in bitcoin, I sold 80% of my stuff, I sold my computers and video cards and to buy bitcoin, and I don't regret it
But if you let me buy something with bitcoin, I will hesitate and pay with fiat currency first.
but this is a mistake a lot of people are making, bitcoin should be used for payments, i use my bitcoin to pay for things when i already make a profit thanks to bitcoin
In my opinion, Bitcoin is a store of value, not a currency. There may be cryptocurrencies becoming legal tender, but not now, volatility and supply and demand need to be considered.
bitcoin Is currency, it all depends on the use that each person is giving