Your Bitcoin portfolio is an investment, so getting old or even death should not be an avenue for you to liquidate your investment. Just like companies and big bank balances are inherited by children of it's owners and others contained in your will, you can decide as a father to split your holdings and issue them to your children as part of their inheritance in order to keep holding even after you've left the earth. Having given them proper orientation on the importance of holding for longer, they can keep holding and increasing the value of the portfolio handed over to them. That way you're still holding for a longer time even in death.
What about an individual that has no kids or kids they willing to trust with such.
And inheriting the holdings, despite education how would he or she be sure the kids would really hold and not sell.
Besides the point, Do you expect the kids to hold forever and give to the next generation as a family heirloom?
Bitcoin isn't just a beautiful vase to he held, If there's need for the children's to sell they can and they want to continue holding it should be their choice.
Though educating them to hold rather than trading is very important, likewise how to take profits without emptying their stash .
I think that some folks have hesitancies in regards to passing down very much wealth to kids, and I suppose even if kids might be somewhat responsible, many of us realize that there is a bit of a difference between receiving wealth versus building up wealth, so surely it may well become very tempting to spend and/or fail/refuse to manage the wealth very well, yet I suppose that there are also going to be examples of responsible wealth recipients.
.........In my country, their is a government policy that mandates all employers to deduct about 10% of the salary of their employees and save it as mandatory pension contribution in a reserve funds that will be accessible upon their retirement. Those of use who are into Bitcoin can copy this, while they are taking 10% to save as pension, we can also work out another 10% or a suitable percentage that we can put into Bitcoin to save for retirement. This way we will be HODLing for something and with a target.
Bitcoin does seem to be a superior pension, so if no amount is being withheld from a person's pay for pension, then the person can choose his own allocation, whether that is strictly bitcoin and cash or if he might include other kinds of investments within his investment portfolio... and I had personally been saving 10% of my pay for all of my life - including around 20 years prior to my getting into bitcoin, and surely some of my savings and/or investments from those kinds of 10% savings/investments did not do as well as other things, and surely once I got into bitcoin then the performance of bitcoin way outstripped my various previous investments... yet I had also reallocated some of my traditional investments into bitcoin...or at least at the time that I got into bitcoin in late 2013, my financial situation was in a position where I was fairly easily able to reallocate some of the value from my traditional investment portfolio into bitcoin (so there is some fortune in an ability to have lump sum options rather than merely relying on DCA strategies from discretionary income from work income).
Another reason some people would HODL forever or what will seem like forever is when their intention is to pass their Bitcoin to their children as their legacy. I happen to be working on this as well because I want Bitcoin to be one of the things I will give to my children. So irrespective of the market conditions or how high Bitcoin goes, I will never sell all my Bitcoin and my wallets will always have Bitcoin that will be taken over by my heirs when I have played my part on earth. This is the reason I have come to know that people HODL for different reasons and it is important we find ut this reason because it will serve as the motivation for doing what we do.
Even if your main plan might be to mostly use your wealth for yourself, but also to have some extra that you are able to pass on to your kids, since we cannot really know when we might either die or become incapacitated, we cannot necessarily know how long we might need our wealth, so there can be some relief that any excess that is accumulated gets passed onto the kids, even if the primary objective might not ONLY be to pass on the wealth to the kids but instead there may be a bit of a dual purpose (or a hybrid) kind of an element that is in place in regards to yourself as a beneficiary of your wealth versus your kids as backup beneficiaries of your excess wealth.