Would you still buy crypto if you couldn't exchange it back to fiat?

Earlier today, I saw someone on here commenting that they would never sell some coin they held - nothing too unusual, there are people saying that every day. But it got me thinking: if you could never sell your crypto for fiat, would people still buy it?

This is a thought experiment. In this scenario, you couldn't exchange crypto for fiat, ever - but it's not just that exchanges wouldn't offer it, there would be no loophole (edit: so also no crypto credit/debit cards) for it. You, for some reason, could not find someone to privately sell your coin to for fiat. In this hypothetical world, everything would be the same as now - you could buy crypto with fiat, you could use crypto for their use cases, and you could even use crypto to buy stuff in the few places that enable it - but you could not get fiat for it. This means, you would either have to have a use case for crypto that isn't "getting more money", or you would have to speculate on more adoption and more merchants accepting crypto in the future.

Would you still invest in crypto? I'll be honest: I'm in this to make more fiat, if I couldn't exhange crypto for fiat I would not invest. What about you?