Hodl mentality is followed up by the idea of loaning your Bitcoin in the future. If people that hodl are not thinking about that, I guess they will take their Bitcoin to the grave or spend it. Neither are optimal conditions.

Bitcoiners who can afford to will loan Bitcoin because it will be one of the only way banks and exchanges will be able to get enough liquidity to do anything with. I am very happy to help provide a little bit of liquidity to keep things running, but my Bitcoin is not for sale.

Think about all the issues every exchange has during extremely volatile days. All those issues are caused because liquidity dries up. You will see it manifest in posts on the internet all the sudden with "Coinbase wont let me Withdrawl" or "Strike purchase went through but where is the Bitcoin?"

Already we experience liquidity crunches. These ETF's get approved and we're going to experience a liquidity crisis and price will adjust. What a wonderful reason to hodl.

You can have your cake and ice cream and everything. Not only can you become a liquidity provider, you can also dictate the terms of the loan to whoever needs the liquidity.

With all of this said, Bitcoin backed collateralize loans SHOULD BE AVOIDED FOR NOW. The LTV ratios are not favorable for plebs and you will get completely smoked in a 50-60% draw-down in price. Saylor talks about loans but he is wealthy and can do some of the things we cant (IE dictate loan terms to get favorable LTV).