You don't consider the fact that the vast majority of the market for Bitcoin is still ignorant about its value? CPI is bunk for sure but there is limited understanding of Bitcoin. As more people understand its value its market price in other assets will rise. Even if no dollars are printed this will happen. Even using something that is understood like gold is problematic since its price is affected by other competing assets like Bitcoin. I don't have an answer but your statement seems flawed to me.