I will add here that Makoto Shibuya published an interesting blog post ("Spend vs Use Real Wealth") on this topic. Read it here: https://www.makotoshibuya.com/post/spend-vs-use-real-wealth
The idea is that you cannot spend #Bitcoin, you can only use it.
Quotes from the text:
- Nominally, the number of bitcoins you hold decreases as you exchange them for value. But when you take a look under the hood, something else is happening. Bitcoin priced in dollars is a reflection of the purchasing power of your bitcoin; it represents how many dollars you can buy with bitcoin. As you exchange part of your bitcoin stack for value, the purchasing power of your remaining bitcoin is actually increasing.
- So, while you can "spend" Fiat currencies like the dollar, You can't "spend" Bitcoin because the act of using it, in turn, increases your purchasing power.
- Yes, you should save in Bitcoin, but you don't need to hold on for dear life. HODLing your bitcoin doesn't increase its value; exchanging it for true value does.