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Ukraine war is a challenge to the petrodollar empire post GFC when it became clear that China is now the dominant productive economy supporting the global economy.

The Biden war doesn't challenge shit, mate. It's dumbass Europoors killing each other and for nothing because their governments said so and because no one knows how to negotiate. The US isn't about to get dragged in to to Europe's bullshit this time unless it's for a crusade against the real threat to the European people which is leftist political parties and their disgusting alliance with jihadists. Otherwise they deserve the pointless war that they chose.

Would the US petrodollar be able to even launch the Iran war if it operated on the Bitcoin Standard and was already $40 T in the red?

The Bitcoin standard already exists and the US government own as much as the PRC, and a single US-based corporation owns 5 times as much as either. It's already been won. The calculations on this war were finished years ago.

but it does not and cannot enable you to debase all citizens savings in a war and that is a strategic disadvantage for any nation state

Nonsense. There's no need to debase civilian savings for a defensive war. We can easily shill the USD and US equities overseas and debase someone else's savings. Real wars are fought by nations and volunteers, not states and slaves. The latter loses every time against a nation that actually wants to survive and win.