There's a question of whether currency can gain value or be devalued through inefficient spending.

Example when new york was bought from native americans for paltry sum. Did the value of real estate diminish while the value of goods traded for new york gain value?

Another example if a government bought 200 toilet seats at a cost of $4 billion dollars, would that devalue US currency?

That could be one area where crypto retains value over other currencies, its buying/selling paradigm is more efficient and more effective than other currencies which negates the effect inflation(inefficient spending) has upon it.