Pizza Day Shows Bitcoin Holders Prefer Holding Over Spending
I believe most long-term holders didn't spend their BTC at early highs, which kept large historical holders (whales) intact. If everyone had treated Bitcoin like a spendable asset early on, those old whales would be gone.
Pizza Day endures because people chose to hold rather than use BTC for small purchases, and that restraint preserved supply and created the narrative of long-term conviction.
Because of this holder behavior, I view Bitcoin's base as patient and value-oriented, which supports its long-term resilience rather than frequent turnover.
Analysis
Recommendation
Maintain a hold stance—prioritize long-term conviction over trading and avoid selling into short-term volatility unless you need liquidity or your time horizon changes.
Disclaimer
The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.