What do people mean when they say to hold on to bitcoin? If someone wanted to spend 300k usd of bitcoin should they spend this amount as soon as they have it or wait longer until its worth a lot more than just 300k usd? How can this be determined?
If you have such amount in Bitcoin, it's completely up to you on how you want to spend it. If you want to hold x number of years, it's your asset and you should make the decision on how long you want to hold. The reason why you are advised to hold is because you will get more profit if you continue to hold. For example, if you had bought 1 Bitcoin for $20k in the past four years and you hold till this year, you would have got $80k+ as profit. That's the advantage of holding.
Surely, by Holding bitcoin you will get high profit when the market is in good mood, you can spend on bitcoin but you just need to get profit first before you will spend alot, because everyone is investing in bitcoin to achieve profit and you need to leave it for long term before you can achieve that goals in bitcoin. Op everyone as is on choice if you like spend all the funds is for your on good, but if someone's knows what is doing, when he got that funds he will invest it and get X of that money and he will definitely leave it for long term, if he needs huge profit back.
Nothing come easily you need to be patient and invest for long term, and get better advantage on your investment journey. Holding as make many investors have achieve there dreams and they are rich already. is just for the them to be topping there investment and be getting double profit. Plan is the key of achievement because if you can't plan well you won't achieve your goals he will be difficult to succeed and predict. Bitcoin investment is naturally long term process is not like other coins that you can get profit in short term, coins that make you get profit in short term are mostly shicoin and they don't used to last. But long term process usually make you achieve your target, Hold and see the beauty of Bitcoin.