What is the essence of buying and hodling Bitcoin like is it to accumulate it till it attains ATH then we sell it off and wait for a dip and start buying and holdling again or just accumulate it and start using it as a digital means of exchange or are we going to continue till the 21 million Bitcoins have be mined, already 19 millions have been mined remaining 2 million because overtime, i have come across several topics about buy and hodl bitcoin so i actually wish to know the sole objective of acquiring bitcoins.
That totally depends on the person accumulating Bitcoin. depends on his reasons of buying bitcoin. Bitcoin can be used for many purpose, you can buy and sell it which is called trading in simple words, buy low and sell high to earn profit.
or you can use that as a way of payment, receiving or sending payment using bitcoin is a lot more convenient comparing to other digial payment sources such as paypal etc (that's my opinion)
Or you can just HODL it and be a long term Bitcoin HODLer, if the price of Bitcoin increase in future, value of your holding will also increase accordingly.