As I think others have said, it's looking like virtualizing x86 OSes (which, unlike doing so on an Intel Mac, entails emulation on top of virtualization) won't be immediately doable. It also looks like it won't be terribly speedy. I've heard qemu tossed around in discussions, but that's not particularly speedy. Furthermore, VMware has stated that they're not going to be having the Apple Silicon/ARM64 versions of Fusion do emulation, just virtualization and I believe Parallels has a similar stance for their upcoming Apple Silicon versions of Desktop as well.
So, the short of it is that it looks like you're only going to get virtualization of ARM64 operating systems and not x86 or x86-64 operating systems at least for a while and that the only macOS releases you'll be able to virtualize will be Apple Silicon versions of macOS Big Sur 11.0.1 and newer (seeing as 11.0 was never available for download and wasn't even able to be restored using built-in recovery utilities [see the currently posted issues with Recovery on Apple Silicon Macs to catch up on that AppleTV+ original series]).
If you want to maximize x86 virtualization ability, I'd say pick up either the 4-port 13" MacBook Pro, the Intel Mac mini, or the 16" MacBook Pro while they still have Intel inside. If you want to hop on the Apple Silicon revolution, you can still do so, though that'd require a second Mac. Though, luckily they're all a bit less expensive than the remaining Intel Macs are, being on the low-end.