HODL is the natural order of things, and reflecting where we are in the adoption cycle. First “Gresham’s law”, which means people prefer to “hoard” the good money and spend the debased money. This is because sellers will still accept the debased money. Next come Thiers law, when sellers no longer accept the debased money, demanding only the good money. People will hodl until sellers demand payment only in bitcoin. Hodling serves an important purpose by reducing the circulating supply and thereby driving up the price, making sellers desire it more.