Bitcoin's supply is better described as deflationary since it's capped and Bitcoin experiences ongoing losses. Eventually there will be fewer and fewer bitcoin in circulation. This will happen way before Bitcoin emission ends in 2140, since in 2061 for instance, only 320 BTC will be mined, and yearly losses will easily exceed that.
Bitcoin's supply is better described as deflationary since it's capped and Bitcoin experiences ongoing losses. Eventually there will be fewer and fewer bitcoin in circulation. This will happen way before Bitcoin emission ends in 2140, since in 2061 for instance, only 320 BTC will be mined, and yearly losses will easily exceed that.