So, Will China's Digital Yuan Target the Dollar Or Bitcoin?
China is against the dollar and for sure to base their Digital currency in dollars would be a big mistake, so, i would bet they will base their currency prize in bitcoin.
I don't think they hate dollar so much that they invented their own to destroy. Dollar will remain the dominant monetary system to the global market, with or without the pandemic.
This will be a nice step for the economical evolution, which is what Venezuela tries to do, but by the right way to do it.
Maduro's Petro was really trying to circumvent the trade embargo against them. But it has all the signs that it won't really go that far (faking how much investments they had). China's Digital Yuan just complicate things for themselves and I don't think it will have a significant dent on bitcoin.