He was talking about living on Bitcoin and he said that he HODLs his BTC and basically spends only USD.
While his point may have been that if you want to spend, you better spend fiat and keep the bitcoins, he should have also emphasize that he also spends bitcoin, just because he is a model, a trend setter.
Bitcoin was built to be a currency. If you want to buy and hold it as an investment, then that's your right - anyone is free to use bitcoin in any way they choose. But if no one in the world ever used it as a currency, then it has no point and no value.
Not necessarily. Gold is also a store of value and it's being used only as an asset, bitcoin may also go on this path. I don't say it's a good direction, I only say that it's possible. And it won't make it worthless/pointless.
10 years from now let’s imagine the following scenario :
- Mr. Mars and its companies own about 1 million BTC.
- Saylor and his Microstrategy own 2+ million BTC.
- Various other companies around the world own another 2 million BTC.
- Grayscale and similar funds that will soon become ETFs own about 10 million BTC.
- Several dozen countries have declared Bitcoin legal tender owning about 2 million BTC.
- Between 2-4 million BTC is irretrievably lost.
The question is what will eventually remain for the average Joe? Probably a lot of worthless fiat...
In 10 years from now people may spend Satoshi or sub-units of that. Bitcoin can still function as a currency, the 8 digits after the decimal point is
a lot. It all depends whether people will still spend or will be convinced to just HODL.