I use acryllic paint all the time. On wallhangings, be sure to use the fabric medium, heat set, and wash in cold water.
It will effect the fabric feel if you put the paint on too thick, it gets stiff.
I would suggest you do a test piece so you feel how it is to be sure you want that on a bed quilt.
Also prewash the fabric, the finish that is often in fabric will keep the paint from settinng into the fibers