In theory it's good for bitcoin as government responses to the pandemic just highlight the deficiencies of fiat.

In practice however bitcoin is still viewed in large part as a highly speculative asset rather than a safe-haven. We may see bitcoin price appreciation in the short-term, or we may see price drops as the economic turmoil starts to hit people in the pocket and they cash in on their more speculative holdings. Long-term, yes, the case for bitcoin grows stronger... it's just that (as we all know by now) the upwards path may have a few sizeable bumps.