Solana CEO Says China’s Crypto Reopening Could Spark Bitcoin Supercycle

Joseph Chee, CEO of Solana Company and former UBS Asia investment bank chief, suggests that China’s potential reopening of crypto trading could ignite a Bitcoin supercycle. Speaking on CNBC’s Squawk Box Asia on October 6, 2026, Chee argued that demand from China’s vast user base could significantly boost digital assets, particularly Bitcoin, if risks are managed effectively. However, he emphasized that this scenario hinges on careful policy implementation by Beijing.

Chee noted that Hong Kong serves as a testing ground for Beijing’s digital asset policies. The city has developed regulatory frameworks for stablecoin issuers and tokenization projects, offering a blueprint for mainland adoption. Success in Hong Kong could pave the way for broader crypto reopening in China, though no timeline or guarantees were provided.

The implications for Bitcoin and the broader market are substantial. A reopened China could inject new capital and trading activity into digital assets, but current restrictions remain in place. Investors should watch Hong Kong’s regulatory experiments closely, as their outcomes will likely shape Beijing’s future decisions. Chee’s perspective, while insightful, reflects his role at Solana Company, which has a vested interest in digital asset adoption.