When the Lord sat on the throne of Hiranyakasipu, there was no one to protest; no enemy came forward on behalf of Hiranyakasipu to fight with the Lord. This means that His supremacy was immediately accepted by the demons. Another point is that although Hiranyakasipu treated the Lord as his bitterest enemy, he was the Lord’s faithful servant in Vaikuntha, and therefore the Lord had no hesitation in sitting on the throne that Hiranyakasipu had so laboriously created. Srila Visvanatha Cakravarti Thakura remarks in this connection that sometimes, with great care and attention, great saintly persons and rsis offer the Lord valuable seats dedicated with Vedic mantras and tantras, but still the Lord does not sit upon those thrones. Hiranyakasipu, however, had formerly been Jaya, the doorkeeper at the Vaikuntha gate, and although he had fallen because of the curse of the brahmanas and had gotten the nature of a demon, and although he had never offered anything to the Lord as Hiranyakasipu, the Lord is so affectionate to His devotee and servant that He nonetheless took pleasure in sitting on the throne that Hiranyakasipu had created. In this regard it is to be understood that a devotee is fortunate in any condition of his life.
Source:A.C. Bhaktivedanta Swami Prabhupada (2014 edition), “Srimad Bhagavatam”, Seventh Canto, Chapter 08 – Text 34