> If you live in a situation where the only local fiat currency is even worse

Then you start buying and transacting with good old Yankee dollars, as the good people in places like Zimbabwe and Argentina and Cuba and other such places have done, because this is the low volatility option and dollars are widely accepted. You don't buy the cryptocurrencies, as they are subject to wild price swings and only marginally accepted.

If you can't buy dollars, something like gold is a much better hedge than bitcoin.