In my opinion, cryptocurrencies are not the solution to the crisis for governments, but they can be a store of value as gold for citizens. As you claim, money printing will lead to a devaluation of the value of fiats currencies, this is good for the US and EU economy for the following reasons:
- the devaluation of the currency makes companies more competitive on international markets and consequently makes national economies stronger, resulting in more tax revenues and rising income for citizens which should counteract rising inflation;
- the devaluation of the fiat currency leads to an increase in inflation and consequently a devaluation of public debt issued in local currency;
- rising inflation will erode the wealth of citizens and their purchasing power which, on the other hand, could be counteracted by the increased wealth produced by businesses;
- the devaluation of the currency is useless without structural reforms on public debt (see my country, Italy, from the 1990s onwards). Only through a restructuring of the public sector can important resources be channelled back to the weakest citizens through income subsidies.
- cryptocurrencies can only serve as a store of value if an increasing number of people place their trust in this tool/good. In the end, gold would be worth much less if it were not considered by everyone as a reserve of value rather than in its technical utility. The same goes for Bitcoin, bitcoin is technically inferior to other cryptocurrencies, yet it is the one with the highest unit value. If this is the case, people will buy cryptocurrency to use it as a store of value and fight inflation.
In conclusion, governments have no intention of renouncing their monetary sovereignty because it is a means of holding the reins of the economy and relaunching it.
What has been explained so far is extremely simplified, if you want to go deeper read some books on macroeconomics (I studied on Blanchard).