I wouldn't think of it this way. There is no global thing called "the money supply" and there is no generalized thing called "inflation". These concepts general

I wouldn't think of it this way. There is no global thing called "the money supply" and there is no generalized thing called "inflation". These concepts generally only make sense in the context of a currency. So M2 is a good example of this principle. M2 IS NOT ALL CURRENCY IN BANK ACCOUNTS AND WALLETS. It is a measure of <b> USD </b> both in terms of currency(paper money) and debt(credit) in circulation. You can't just talk about M2 generally, outside of the context of the dollar, it is specifically a metric for measuring the dollar. Therefore by its definition, bitcoin cannot directly affect M2 or USD inflation. So then saying > have we expanded the money supply by Trillions? is sort of like saying "Is it hot now?" to which you'd respond "Is what hot?" The question would have to be "Have we expanded the money supply of USD by Trillions?" In which case the answer would be yes but that has nothing to do with Bitcoin. This is also why currencies are denominated in pairs like USD/EUR or BTC/ETH. The USD is kind of a meaningless concept until you compare it's value relatively to something else, either goods or services or another currency. So you can't just say a dollar is worth 12 value. You have to say a dollar is worth 1 hamburger or a dollar is worth .00001 BTC. In this sense inflation of the USD is when it takes more USD to buy a BTC. In this sense again you can see that inflation has to be relative to a specific currency.