Those who store all their asset in bitcoin will end up not being able to hold all their bitcoin for a very long time,they will only be able to hold little fraction of 20% after a long time, due to the fact that we will be faced with an unforeseen financial challenges and before you know it since this is there only assets they will have no any other option but to use from their portfolio to tackle the problem.
It is only those who have overcome financial stability that can store all their asset in bitcoin. I don't think it will even be possible to store all your assets in bitcoin and still be able to hold for long. Even the whales or someone that have overcome financial stability is because he has a business or businesses that is fetching him his funds daily. If this type of person has like $1M and invest all into bitcoin doesn't mean that he has invested all his asset in bitcoin because his business is still on.
What I want people to understand is that if you are not the patient type with your savings, you will find it difficult to hold for long. Let's look into Laszlo case 13yrs ago,he used 10,000btc to purchase just two pizzas and today 1btc is worth $26+. Imagine if he had all those btc with him presently. Imagine someone has 0.1btc right now and was able to accumulate more bitcoin gradually and does DCA till he realizes 1btc and hold it for 13yrs,he will be very happy seeing the worth of his investment.
I do agree with everything you have said. The idea of people not holding all of their finances in Bitcoin has really been talked about so much here, and there is nothing bad talking about it continually because I really believe in making sure people understand what I do know about Bitcoin so that it will be easy for them not to repeat some mistakes made out of ignorance, which has led to certain misconceptions by many people. But the truth is, we cannot make everyone as knowledgeable about Bitcoin as many of us here are. The reason is that some people are too lazy to read up on the complete information they see, and some people also don't listen correctly to what you tell them, so they might not find what you are saying very interesting until they make some mistakes.
I will give one funny example: I talked to someone about Bitcoin, and he asked me about where he could easily buy and sell Bitcoin, and I called a few platforms for him (CEX and DEX), but in my absence, this guy created an account with a CEX I did not also use; he used his card to fund the account; he bought Bitcoin and tried to withdraw it, but unfortunately he was unable to do so. Although he did not complain to me for some months, but one day he called in on the telephone and started complaining. So, i fixed a meeting with him, and after we met, I realized that the guy bought the bitcoin on a CEX that requires KYC before he can withdraw. There were no other options to withdraw those funds unless he passed the KYC, so I told him what has happened, and we had to pass the KYC, which took 24 hours before verification. He even needed a little loan help to solve his needs before we could withdraw his funds from that exchange.
In essence, it can be frustrating when one doesn't get full information and goes ahead to do otherwise. About that guy, he bought Bitcoin and did not even hold it for four months, then sold it without any profit, and he almost also got his coin knocked on the CEX because he failed to get complete information from me.
There are many scenarios to look at, but all I can say is that Bitcoiners, mostly newbies, need to buy Bitcoin in a way that they will not feel so compeled by needs or emergencies to sell it off so quickly without any profit.