Inflation means the price of assets goes up. That means the purchasing power of cash goes down. If you don’t want your purchasing power to go down, you buy assets instead of holding cash.
If you really believe inflation is going to be high, you could take out USD-denominated loans to buy inflating assets. The inflation would increase the value of your assets and decrease the value of your loan balance at the same time. Of course, if you get this wrong you’re stuck with a house that’s worth less than what you paid.
This isn’t new. It’s basic investment knowledge that holding wealth in cash will slowly devalue it due to inflation. Anyone who wants to avoid inflation must invest it somewhere.
Bitcoin’s value is driven purely by demand. Buying Bitcoin isn’t so much a hedge against inflation as it is a bet that demand will continue to rise. The technical term for Bitcoin’s price increase is demand-pull inflation.