Both, spend some and hodl some. I have needs that cannot wait for bitcoin to reach above 10K so I have to spend or convert to fiat. But those I can save, I hodl for long term.
I Still Have to Buy Anything Using Bitcoin because I want to hold on to the Bitcoin we have as much as possible because even if there are times when Bitcoin can dip in value the overall trend is going up. Just now, there is a retreat in the value of Bitcoin but it is just gathering some inertia before jumping into a higher wall. It is essential for e to buy anything using bitcoin.