Can brag they have it. This commitment to hold it for status gives it a baseline value. Crypto prices are driven by people trying to get rich. No one is holding onto it so that they can say they have it. They are holding it until they can sell, no long term commitment means it will be pretty easy for the bottom to fall out once everyone starts cashing in.
As of now there isn’t status in holding crypto, so I think there is a difference. Maybe it will get their eventually like the fungible token craze going on.