The government I'm pretty sure will be unable to keep the 'upcoming' inflation in check, they can't possibly print this much money without any consequences in the future, their economy will of course feel the brunt of the activities of the money printer, but then on its impact on Bitcoin and it's hodlers, i think people will have to understand that Bitcoin is a hedge to their devaluing Fiat currency, which thus could make more people put their money in the network, and that could cause the price of Bitcoin to appreciate.