Solana Company ($HSDT) Chairman Joseph Chee: Uniting Pantera & East-West Capital to Build Solana's Berkshire Hathaway

"SOL is poised to surpass $500 within the next six months and challenge the $1,000 mark in the coming bull cycle," said Joseph Chee, Executive Chairman of Solana Company, in the latest episode of 168X, a premier East-West capital markets dialogue platform, unveiling his complete strategic blueprint for building the "Berkshire Hathaway of the Solana ecosystem."

A former titan of UBS Asia’s investment banking division, Joseph Chee led more than 150 IPOs and 300 equity, equity-linked, and debt transactions, raising over US$250 billion during China’s capital markets “golden decade. He played a key role in helping both state-owned and private enterprises transition into international markets — achievements that made him one of the most influential dealmakers in modern Asian finance. Now, Joseph Chee has once again mobilized leading investors — including Pantera Capital, along with top Wall Street and Asian institutions — raising over US$500 million to launch the next-generation listed Digital Asset Treasury (DAT) under Solana Company (NASDAQ: HSDT).

This article is based on an interview from 168X (@168X_Fortune), a premium dialogue platform bridging Eastern wisdom and Western innovation, exploring how technology, capital, and humanistic wisdom will reshape civilization's future across AI, Blockchain, Robotics, Space Technology, and Biotech. Hosted by ex-banker Mr. Z.

Host: Mr. Z (@168MrZ) · Guest: Joseph Chee (@JosephChee)

From Wall Street to China's "Golden Decade": A Capital Giant's Transformation

Joseph Chee's career is a legendary journey spanning capital markets across both hemispheres. Starting with an MBA from NYU, he entered Citigroup during the dot-com bubble, launching his investment banking career on Wall Street.

When China rose, he followed the capital flow to Hong Kong. His years at UBS marked his firsthand participation in China's capital market "Golden Decade." Among his landmark achievements were the merger of Bank of China (Hong Kong),  the IPO of PetroChina, and the merger of CNR and CSR — transactions that became defining milestones in China’s financial modernization.

"The air was filled with optimism and energy," he recalls. "Entrepreneurs, bankers — everyone was driven, believing they were building a new world." His team once completed 7 IPOs in a single week, with single-deal fees reaching $120 million.

Having witnessed firsthand how China rose from humble beginnings to become a global economic powerhouse, Joseph Chee developed a deep understanding of how emerging markets and structural transitions create exponential opportunity. He believes the crypto industry today stands at a similar inflection point — where technology, demographics, and capital are converging in the right time and place to redefine the global financial order.

“I’ve seen these kinds of miracles before in China,” he says. “This time, the stage is the world of blockchain and digital assets.”

Founding Summer Capital: From Traditional Finance to Web3 Premier Capital

After 2013, Joseph Chee keenly sensed a paradigm shift. "The financial crisis changed everything. Investment banking culture shifted from encouraging 'making miracles happen' to demanding 'don't make mistakes' — compliance became paramount."

This risk-control-centered atmosphere prompted him to found Summer Capital in 2017, executing a critical pivot from sell-side to buy-side.

He admits the transition from banker to entrepreneur was extremely difficult. "Investment banking trains you to be extremely risk-averse, always seeking zero-risk profit opportunities. But true entrepreneurs see the goal clearly, then embrace risk while moving decisively forward."

Through venture capital and private equity fund management, and deep operational involvement in portfolio companies, Joseph Chee completed a dual evolution of mindset and capability over several years.

"Now, I'm finally ready." And the DAT (Digital Asset Treasury) model perfectly synthesizes all his accumulated expertise: deep understanding of Wall Street and Asian capital markets, investment vision in emerging sectors, and the boldness and strategic thinking required of entrepreneurs.

"This is a stage tailor-made for me," Joseph Chee concludes. His transformation represents a traditional finance giant's full-scale entry into the digital asset era, with Solana Company as his magnum opus.

Why Solana? "Wall Street Is Data-Driven"

Among numerous blockchains, why did Joseph Chee choose Solana to build his Digital Asset Treasury? His answer reveals typical Wall Street elite pragmatism: "Choosing Solana is very simple. Data doesn't lie."

"If you carefully analyze operational data across all blockchains, Solana is the clear winner," he explains. "Solana is today's cheapest, most scalable blockchain with the most active users and highest developer influx. From the most critical profitability metrics, it's likely also this year's most profitable chain."

Beyond technical advantages, he values ecosystem vitality. "Solana's ecosystem partners and foundation have built exceptional infrastructure. My job is to put these outstanding performance metrics on paper and clearly explain to investors buying our stock: this is the most powerful blockchain you can find."

He expects that within months, as more Wall Street analysts begin covering the DAT sector, Solana will stand out among blockchains with its indisputable data performance. "From a data perspective, Solana is the simplest choice and the easiest story to tell Wall Street."

The DAT 2.0 Flywheel: WKSI Status and the Permanent Capital Vehicle

Unlike other DATs, Solana Company's transaction structure embodies Joseph Chee's deep traditional capital markets expertise throughout. The $500 million PIPE financing, innovative 1:1 warrant design, and industry-leading resale registration timeline all point toward one strategic objective: achieving Well-Known Seasoned Issuer (WKSI) status.

"WKSI isn't just a title — it's a game changer," Joseph Chee explains. "It means tremendous flexibility in fundraising, eliminating lengthy SEC approval waits and enabling 'immediate registration, immediate offering.' In today's environment of frequent U.S. government shutdowns, this advantage is especially valuable."

To reach WKSI qualification thresholds, Solana Company precisely designed the $500 million offering size. "It's a balancing act," he analyzes. "Too small makes institutional-grade liquidity difficult despite easier valuation premiums; too large risks diluting shareholder value. We found the sweet spot that satisfies WKSI requirements while maintaining growth momentum."

This model, which Joseph Chee calls "DAT 2.0," is a self-reinforcing capital flywheel:

1. Premium Financing: Leverage market valuation premiums to raise low-cost capital through equity offerings
2. Accelerated Accumulation: Deploy raised capital to purchase SOL at scale, continuously increasing SOL per share
3. Value Protection: When stock price falls below NAV, initiate share buybacks to protect shareholder interests
4. Leverage Amplification: Future deployment of debt instruments and structured products to further expand asset scale

In Joseph Chee's blueprint, Solana Company isn't merely a passive SOL treasury but an active capital management platform perfectly combining traditional finance strategies with crypto market opportunities.

Macro Cycles Converge: SOL Will Break $1,000 This Bull Market

Joseph Chee frames Solana’s investment case within both macroeconomic and technological cycles. “We’re in a consolidation phase, but multiple macro and structural forces are laying the foundation for the next expansion cycle. As global liquidity returns to risk assets, the coming bull market will present historic, structural opportunities for crypto.”

He notes that rate-cut expectations have already shifted the macro backdrop. “Historically, when inflation peaks and easing begins, markets enter a multi-year liquidity expansion. Emerging assets regain valuation momentum — and high-performance networks like Solana, with real users and throughput, become capital magnets.”

Within this macro framework, he elaborates SOL's unique investment thesis:

1. Institutions Haven't Allocated Sufficient SOL: Current institutional SOL holdings are negligible compared to BTC and ETH allocation ratios. Once institutions begin formal allocation, enormous buying pressure will emerge.
    
2. ETF Approval Chain Reaction: We've seen global regulatory attitude shifts toward SOL. SOL ETFs have been approved on Wall Street and in Hong Kong. This isn't just new capital inflows — it's institutional-grade endorsement.
    
3. DAT Ecosystem Synergy: Beyond Solana Company, increasing numbers of DAT companies are joining SOL accumulation efforts. This forms a structural buyer coalition, creating dual momentum with traditional ETFs.
    
4. Technology-Capital Compound Flywheel: Solana's performance metrics are creating powerful network effects. Faster transaction speeds attract more developers, more applications bring more users, further driving network value in a positive technology-capital feedback loop.
    

“In the short term, SOL is poised to surpass $500 within six months,” Joseph predicts. “In the next bull cycle, reaching $1,000 is only a matter of time. This trajectory isn’t speculative — it’s supported by the explosive growth of the Solana ecosystem and by the fact that Wall Street and global institutions are now embracing Solana as the emerging Internet Capital Market.”

Uniting East-West Capital to Become Solana's Berkshire Hathaway

Discussing Solana Company's vision, Joseph Chee clearly aims to build "Berkshire Hathaway of the Solana ecosystem." "We're not learning Berkshire's portfolio but its core philosophy — ultimate discipline, clear communication, and always putting shareholder interests first."

Regarding investment strategy, he provides a clear roadmap: "Short-term, our core mission is maximizing SOL per share. This means capturing current capital market windows through equity financing, debt instruments, structured products — every legal and compliant method to continuously expand our SOL reserves."

On ecosystem investments, he maintains strategic patience: "We closely monitor Solana ecosystem DeFi and infrastructure projects, but any investment must meet one core standard — does it create long-term shareholder value? At the right time, we'll consider strategic reinvestment of staking yields, but currently, asset accumulation is the priority."

Joseph Chee concludes with powerful conviction: "If you believe in macro cycles, if you believe in blockchain's future, then after Bitcoin and Ethereum, now is Solana's time."

About Solana Company (NASDAQ: HSDT)

Solana Company (Nasdaq: HSDT) is a listed digital asset treasury dedicated to acquiring Solana (SOL), created in partnership with Pantera and Summer Capital. Focused on maximizing SOL per share by leveraging capital markets opportunities and onchain activity, Solana Company offers public market investors optimal exposure to Solana’s secular growth.