This is what everyone in crypto likes to repeat. I'm not so sure.
Let's remind ourselves how money is created. When a commercial bank issues a loan, the principal is new money created out of thin air. When it is paid back, it is removed from circulation. When economic activity has slowed down like it has because of how societies and individuals are reacting to the coronavirus, fewer new loans are being issued and thus less new money enters circulation, that still leaves old loans to be serviced. When businesses are failing and workers are getting laid off, many find themselves having serious problems servicing their debts. The stimulus money is a welcome relief as it allows many individuals to avoid bankruptcy and having to sell their assets at prices well below normal market prices. Despite the stimulus money looking like very large sums of money, in most cases it will be spent on necessities like food or power or paying back existing debt.
Economies around the world are in such dire straights now that I'm predicting not even QE Infinity will spark out of control inflation. What it will do instead is disconnect asset valuations on the financial markets from fundamentals and that is why Bitcoin and most other cryptocurrencies will rally in the next 12-18 to months.