China has apparently started to propagate its digital yuan today. So has the US.

https://www.cnbc.com/2021/03/05/chinas-digital-yuan-what-is-it-and-how-does-it-work.html
https://www.reuters.com/business/finance/digital-dollar-project-launch-five-us-central-bank-digital-currency-pilots-2021-05-03/

i read the articles and they talked about decentralized currency (bitcoin) vs centralized currency (digital yuan/US CBDC). Interestingly, bitcoin was touted as the digital gold due to its scarcity (limited to 21 million) and decentralized nature. Will digital yuan or the US CBDC be the new reserve digital currency and will this render bitcoin obsolete? This space warrants more reading up and research