Great video. I tend to agree that one currency may have a hard time being both an asset investment and a liquid means of exchange for the reasons you state. If you have something that is going up in value, you won't use it for exchange. In the same way, if the currency is only being used for liquid transactions, then it isn't really a good idea to hold it as an investment. It is much the same rule that people don't stockpile cash in a bank account as an investment. They might use that cash to buy less liquid investments (ie. real estate, stocks/bonds, gold, etc.) and treat those as investments, meanwhile leaving a separate account with liquid funds for day to day transactions (ie. check account). Bitcoin, like Fiat currencies, can be both however I think time will tell where it best serves purpose. I do see that it is a very efficient and inexpensive cross border payment tool, but if the recipient cannot spend it then it won't be widely adopted. Lightning network may be the key indicator of how this works if retail vendors are willing to accept it as a form of payment at the counter.

It is early days and like you I've been a Bitcoin hodler for a very long time (since 2011) so I have some skin in the game here. That said, I did sell a lot of BTC last year at the highs because I could not see BTC achieving its network effect and true potential - at least not for some time. I'm still not sure if/when that will happen but I'm still optimistic. I think that the alternatives (our existing fiat currency system) are not very good for ease of transactions across borders and that may be the key here - let's all see how this plays out, but it will take years I think.