The arguments and reasoning here is so garbled, it borders on the hilarious.

It isn’t though. Instead, it’s the usual Church of Crypto Sermon. Let’s go through a couple things to help people:

1. “Fiat” does not have a value. It only has a relative value to other fiat. And this is based largely on the political and economic soundness and transparency of the country.
2. “These people clearly think that Bitcoin is a superior store of value compared to fiat.” — In exchange for what? Compared to what? If it were compared to Zoom, Inc. equity in the last week, BTC, ETH, etc. would look pretty horrific. These kinds of statements and reasoning are the usual ignorance or self-serving propaganda on the part of the believers or promoters.
3. “The only certainties we have are that governments will print as much money as they need to protect their own economies, there will be a much higher sustained rate of inflation in due course and it will take decades to recover. Things will probably never be the same.” — Yes, I remember this all being said after the mortgage crisis…after 9/11…after the dotcom crash…after Long Term Capital crash… But this time it may well be true, but has nothing to do with the response to try to keep economies alive. A global pandemic that puts a complete halt to nearly everything in an economy will have the lasting damage. Not the attempts to mitigate that damage. Those have all worked pretty well since the 1930’s. See (mostly western) living standards growth over that period.
4. “Interestingly, this has created the ideal theoretical conditions for Bitcoin to thrive. It hasn’t needed a $1.5 trillion bailout to try and support it. It hasn’t activated any circuit breakers to stop its 24-hour trading. It is the only currency on earth that hasn’t increased its supply.” — — Reading this actually made me laugh out loud. Is BTC an “economy” now? Or is it now an actual investment legitimately traded on a regulated exchange that has a real business behind it that is part of an actual economy? Oh, right. It’s just a mechanism to carry out illicit activity with little chance of discovery. A big business and, I’ll agree, probably more resilient in this circumstance, since illicit activity typically grows during real economic downturns.

So much to say, but I do realize that there are three kinds of people who might not understand what’s foolish in the above post: the religious believers/zealots of crypto, the ignorant, those making money of promoting it. Carry on, nothing to see here…