The other possibly more important reason why bitcoin can act as a hedge against inflation and the possible failing economy is that bitcoin is not linked to the traditional assets even though it may be affected by the economy as a whole in
short term.
Bitcoin made a 9.3% price increases against the United States dollars on the first day of October
The short term increases (or decreases) don't matter. The long term is the important one.
For example over the past 2 years from 2020, price has gone up 1400% or
in a longer period over the past 5 years from 2016 price has gone up 11000%
At the same time it's not really connected to one country's economy. Therefore there is a value of stability here, it can also be really helpful for countries which are in a civil unrest as well.
-This way they work as a strong tool to control the drastic situations in various countries and sectors as well since they are not entangled into just one and if you see it like that, these countries generally supports each other indirectly. The strong economies for sure makes big investments here and which can help break the wealth barrier in other parts.
Taking about Inflation. I do think that, we don't really have much to worry about since the whole ecosystem of cryptocurrencies like bitcoins is very different from the ecosystem of fiat and other assets, they basically have different rules definately compared to normal economy.