If by spend you mean to point out that Bitcoin is not a currency that is accepted everywhere, that's fine. By cashing out (whether at an off-ramp or whatever), these hoarders are distributing supply for others to gobble up. I think most people would find it very difficult to hold on to billions of dollars worth of Bitcoin and not be tempted to enjoy it.

This was a decent thread on the topic.

https://twitter.com/n3ocortex/status/1356673243734822912?t=ES59rEl_uAyVfDK3Vq3Kjw&s=19