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.
It is very simple. The essence of buying bitcoin and holding is to keep it as a great store of value because as time goes on so is Bitcoin gaining in price due to volatility. It is another way of keeping your assets from local banks. Because if you put your fund in the bank, there is no possibility for greater return. Instead inflation will eat it up. Holding bitcoin for long does not mean that you will HODL forever or wait for it to attain ATH before selling or buying back when it is dip. Thou It depends on people, because people have there opinions and thoughts on how they do there investment. Some might like to sell when it's high and buy when it's dip while some will hold for as long as 10 to 15 years before selling them off.