Not necessarily. I use bitcoin to buy my weed and contrary to speculators, I actually use it: buy the BTC, and immediately spend it. How much it's worth in real money is irrelevant, since you don't actually hold it for more than a few hours. If anything, less speculation would benefit drug users in terms of transaction fees. Cryptocurrencies in general are still bad due to mining/their ecological impact, mind you (and proof of stake just doesn't work).