Basically an investor is someone who has bought or invested money in a particular company or business. So when referring to bitcoin, of course it's the same.
So if you look at the basics of investment, someone who has bought bitcoin means that person can be said to be a bitcoin investor.

So even if the person spends bitcoins in any way. Basically this person can still be said to be a bitcoin investor. But maybe if it is directly spent or sold immediately, it means that the person only invested briefly in the bitcoin. Because you need to know, investors in bitcoin have several ways to make a profit. Some invest in the short term, there are also those who invest in the medium term, and there are also those who invest in the long term.

So the point is that bitcoin investors are not measured by the length of time they have held the asset (bitcoin), but the point is that if the person has bought bitcoin, it means that person is legally a bitcoin investor.
So the question the OP made was just a matter of the difference in selling bitcoins. One can be said to be a bitcoin investor who invests in the short term and the second is a bitcoin investor who invests in the long term.