The risk of which I spoke was to hold on to the BTC instead of spending it early on pizzas or other goods. No one had any idea that the value was going to go u

The risk of which I spoke was to hold on to the BTC instead of spending it early on pizzas or other goods. No one had any idea that the value was going to go up so much. It could have easily gone the other direction meaning 100k BTC would be the price of a pizza, or more likely that no pizzeria would accept btc. And you might say, it wasn't risky because they hadn't spent anything to get the BTC in the first place but that ignores the reality of the moment in time. Even if you look at it as if they had played the lottery and won, once they have the item they are constantly taking risk by holding it when the value of the item in the future is unknowable.