I'd argue that in that case they probably don't understand Bitcoin's incentives as well as they think they do.

Now if they had a pressing need to exercise some stored optionality, they might be concerned about short term price movements. For example a medical emergency or emergency repairs.

To be clear, I'm not passing judgement. I recently put a small 60x leveraged long on at $91,400 & I've been watching how it's shifted my attention & thinking. I also have bills I've delayed paying that are fast approaching being exceedingly overdue.