You are right about altcoin bag holders but we are talking about bitcoin here.
I don't have to sell my bitcoin ever and yet I will benefit from the increased purchase power by simply spending my bitcoins. In fact over the past 8 years that I have been using bitcoin, I have only sold my coins a handful of times. The rest I have spent them just like the fact that a good portion of my stash is actually earned not bought.

Because as I always say: bitcoin is a currency not an investment.