If you look at the historical value of Bitcoin, you will notice that in the long term, it becomes more and more valuable. It's very simple. If you have 100 units of paper notes (doesn't matter if its USD, EUR or something else), you are more likely to spend those. Why? Because next year or 10 years from now, the value of those notes will depreciate. That item that you bought for 100 units now costs 120 or more. With Bitcoin, it's the opposite. Something that cost 1 BTC years ago, now only costs 0.01 BTC. People are holding their coins because they are speculating that this trend will continue.
But there are also those who don't think like that at all and tend to use their bitcoins as currency whenever and wherever they can.
I agree with what you said and I have gained more knowledge and better understanding about the reasons why so many people value Bitcoin and hurd it, I will rather spend the fiat currency I have than play with my Bitcoin knowing too well that my bitcoin will never lose value based on speculations. Thanks for the explanation.