Bitcoin: Pizza Day Highlights the Power of Hodling

I think the reason there are still old Bitcoin whales is that most early holders didn’t spend their coins. If everyone had behaved the same way, many would have sold at higher prices and those long-term wallets wouldn’t exist.

To me, Bitcoin Pizza Day shows that early users were reluctant to use BTC for everyday purchases and preferred to hold instead. That reluctance preserved supply and helped create the foundation for future price appreciation.