Bitcoin's intended use case was a method to transact without intermediaries like Banks, and Governments.

I understand that Bitcoin is considered to be Deflationary over the long term, and that people would want to save a currency that is Deflationary.

However, Bitcoin's value comes from its utility which is being used as a medium of exchange, if no one is transacting with Bitcoin then Bitcoin has no utility hence no value.

Additionally, when money isn't being spent then the economy doesn't have liquidity for hiring, more production, or getting more resources.

I am approaching Bitcoin from the angle of its intended use as sovereign money to free people from oppression, not as an asset which appreciates.

Circulation is important for Bitcoin to grow, and improve its utility, and value.