We all know that bitcoin is the king and father of all digital assets. Bitcoin was created for 2 purposes.
1. To be an alternative to fiat currency.
2. Stay free from govt control.
It could be yes.
1. Because people didn't want to spend their Bitcoin after they bought it, they prefer it to store a value which is hoping that the amount vs to dollar will increase and sell when they saw a profit. Maybe 40% of it is used as an alternative currency the rest could be the holder which is they hold for profit.
Personally I do not understand why this is used against bitcoin, a form of money is supposed to be a store of value, the gold that you could use hundreds of years ago to buy something can still be used today to buy a lot of stuff, making gold a fantastic store of value, while in the case of fiat you would be lucky to buy 1% of what you could buy with it 100 years ago, so the fact that people prefer to hold their bitcoin shows how strong bitcoin really is compared to fiat.
But can you live with spending zero bitcoin.
You need to spend it in order to match what so called money ....
Money is meant to be used, it's a medium of exchange .. a transaction tool.
If you just do holding and treat it like an investment , then i think bitcoin is not really used as money , it's used to transfer purchasing power right? That's what most people do right now.
We might use altcoin better as a transaction tool with ts really low fee
If you will only be hodling bitcoin for the rest of your life, that's the time that bitcoin has failed to serve its purpose. Bitcoin is a currency, having it as a good store of value should only be its last option. For now, its reasonable that we are using it as a store of value but when the time comes that bitcoin will be globally accepted, then it should start to function as a currency. However, judging bitcoin by now i don't think it has failed in its purpose. El Salvador has been using it already, and i think Russia and Ukraine will be next to adopt it. So the purpose has been already starting to slowly realized, and before we knew it, majority of the countries are already accepting bitcoin already as a medium of exchange.