I think not to hyperinflation.  What I'm seeing is that in western capitalism at least, central treasuries now have a fairly good computer simulation of what will happen to shop prices next quarter as a function of how much money they issue.  So they issue enough to keep things steady, and in a society of idle spenders and furloughed shop assistants.  I suggest that sane economics ought to have seen rent and equities and dividends here collapse to prices aligned with median world salary (China was 80k yuan per annum last time I looked; about $1k per month) yet the rent on the meanest flats around here cost that, implying that in the absense of money printing, and for our factories to end up working just as hard as theirs, our rent should need to fall about x3.  By the way, should we be designing the next generation of homes to be nil CO2 and much lower cost than the last?  Furlough payments and prohibition of eviction (even for shop owners who were not selling anything last year) appear to be designed to prevent deflation to rational from happening.  It is even against the law (thanks to the EU human rights clauses) to offer to employ someone around here for 48 hours per week at $1000 per month.  I suggest that govenment free money only filling in excessive rent is why we are not seeing inflation nor deflation, and that is why I'm not running a factory making any of the honest products which I'd figured out how to make efficiently.

So I think that we won't see 1929 Weimer style hyperinflation in the West.  We'll get years of market distortions and contrafactual incentives instead.  And as usual, those tend to prop up the fictional stock market prices, and as usual the brokers will cry foul if ever the pricing should fall towards rational, even if only for a day.

For Bitcoin that would be neither positive nor negative.  21 Million Bitcoins remain worth the same as All The Real Money In the World.  I'm still waiting for the $ shop to notice.