In general - would Bitcoin be a hedge against soon to come hyper inflation?
Hyperinflation? Over 50% in inflation a month if we go by the book and at least 100% a year with the lowest classifications?
If you're referring to the FED and thus to the US we might indeed see periods of high inflation but hyperinflation, no! If something on the scale of Weimar or Zimbabwe or Venezuela will happen to the near future US you will have a lot more problems that could be solved with hedging. Look at what small inflation is doing to the economies and the imbalances in the markets, if the US indeed goes to that point the whole world and its economy it will be such a fucked up thing you will start thinking like earthquake survivors who have lost everything and are too old to get a job, why even survive !!!
People are already using it as a hedge, and some will indeed use it as a hedge. A better question is, how good will bitcoin perform as a hedging asset? I'm afraid we can only make guesses here, and only time will tell.
Let's just hope it will do better than in March when the pandemic hit and everybody ran around full headless chickens panic mode, otherwise we're screwed!