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You would be surprised about how many old people prefer to die with a lot of money in the bank and under their pillow instead of buying watches, cars or go on a cruise. Many of them own a house or two because they prefer to be independent. But the main reason is what once you reached a target you worked towards for many years because you always thought you want pure luxury all day long, there is something going on with many people that keeps them from sending their money without thorough consideration.
I believe that bitcoin is such an asset. Sure if you are a whale and you are sitting on a bag of 30,000 BTC like Tim Draper, selling some wouldn't hurt you, but often times even these people keep this asset. Draper bought at just over $600 and still holds 29,600 BTC. Why? Why wouldn't someone who bought for a little less $18 million not sell for $18 billion? It's a question someone should ask themselves before they consider getting rid of their holdings because they feel like buying a new car.
Wow. You don't need to use any such extreme examples of someone who might well be set for life with bitcoin and potentially leading a relatively modest life, and even someone who is sitting on 100 BTC and with hardly any other assets may well have put himself into a position of being somewhere close to a whale in terms of potentially being able to live off the bitcoin with anywhere between $5k and $10k per month worth of spending (withdrawing that much from the bitcoin holdings every month - or the equivalent monthly amounts on a quarterly or yearly basis), and also it would quite likely be the case that the bitcoin value in terms of dollars would be growing in value faster than his withdrawal of the BTC and also faster than the rate of the debasement of the dollar, so even if he is living off of his bitcoin at such rate of between $5k to $10k per month, he could reassess where he is at every few years to decide whether he might be at liberty to increase his income and still have a BTC stash that is sufficiently sustaining its value. So sure, there could be lifestyle considerations and also considerations if he is ONLY supporting himself or if he is also submitting an family, and of course, where he is at in the world will likely affect his expenses, too.
If someone who have huge amount of Bitcoins decides to sell part of their holdings and invest in more valuable asset it is considerable instead of selling to acquire luxury things that are not bringing anything to you
I doubt that there is any better (or more valuable asset) than bitcoin, yet a person might choose to withdraw bitcoin to either consume or to even diversify his assets, including potentially getting some enjoyment out of something like a house, even if a house would not have very high likelihood of being a better investment than bitcoin, but still people do get value and senses of satisfaction and even comfort by various kinds of property ownership, whether considered as investmennt properties, or consumption properties or some combination of property characteristics..