This is a scarcity mindset, which shouldn't be conflated with Bitcoin's scarcity. I know I produce more than I consume, so spending Bitcoin isn't a concern for me. I have savings and it increases over time, whether I spend or not. I figure the bulk of these people are leveraged to the hilt, have a small stack, or produce little economic value. That's generally consistent with those who have a scarcity mindset. There are exceptions, but they aren't the ones telling me how to use my money.