Key Takeaways
- • Meanwhile, a Bermuda-based, Bitcoin-denominated life insurer backed by OpenAI CEO Sam Altman, raised $37.5 million in a funding round led by existing investor Bain Capital Crypto, according to multiple reports.
- • The raise brings Meanwhile's total funding to over $180 million, following an $82 million round in October 2025 and a $40 million round in April 2025, per supplemental reporting.
- • Reported valuation is approximately $350 million, according to Axios and other outlets; one earlier report cited a $100 million valuation for a $19 million raise.
- • Meanwhile held 1,183 BTC in assets at the end of 2025, more than five times the prior year, per audited data released in April, with legal capital and excess assets of 759 BTC.
- • The company's BTC Life 1-Pay product targets high-net-worth clients outside the US, with policyholders borrowing up to 90% of policy value after year one, and has signed agreements with 15 brokers serving affluent families in Singapore, Hong Kong, the UAE and Switzerland.
Summary
Meanwhile, a life insurer licensed to operate entirely in Bitcoin, has raised $37.5 million in new funding from existing investors, according to multiple reports. The round was led by Bain Capital Crypto and included participation from Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures, and Morgan Creek Digital, per supplemental coverage. Axios, citing CEO Zac Townsend, reported the raise exclusively and put the valuation at roughly $350 million. The company's total funding now exceeds $180 million. Sam Altman is among its backers.
Meanwhile is a Bermuda-based regulated insurer that received its license from the Monetary Authority of Bermuda in 2024. Its balance sheet and insurance products are denominated in Bitcoin. According to audited data released in April, the company held 1,183 BTC in assets at the end of 2025, more than five times the prior year, with legal capital and excess assets of 759 BTC. Policyholder assets are reported to be held with regulated institutional custodians.
The company's flagship BTC Life 1-Pay product targets high-net-worth clients outside the United States. Policyholders pay a single Bitcoin premium, and death benefits are also denominated in Bitcoin. After the first year, policyholders may borrow up to 90% of their policy value, and the company states there are no fixed repayment schedules or margin calls on these loans. Since launch, Meanwhile has reported agreements with 15 insurance brokers serving affluent families in Singapore, Hong Kong, the United Arab Emirates and Switzerland.
The model is designed to let Bitcoin holders plan for inheritance and long-term wealth without selling their holdings. However, because both collateral and benefits are in Bitcoin, the value of policies can fluctuate substantially against fiat currencies, meaning the product carries risks distinct from traditional life insurance. Reporting on the valuation varies, with one earlier report citing a $100 million valuation for a $19 million raise.
Meanwhile is a Bermuda-based regulated insurer that received its license from the Monetary Authority of Bermuda in 2024. Its balance sheet and insurance products are denominated in Bitcoin. According to audited data released in April, the company held 1,183 BTC in assets at the end of 2025, more than five times the prior year, with legal capital and excess assets of 759 BTC. Policyholder assets are reported to be held with regulated institutional custodians.
The company's flagship BTC Life 1-Pay product targets high-net-worth clients outside the United States. Policyholders pay a single Bitcoin premium, and death benefits are also denominated in Bitcoin. After the first year, policyholders may borrow up to 90% of their policy value, and the company states there are no fixed repayment schedules or margin calls on these loans. Since launch, Meanwhile has reported agreements with 15 insurance brokers serving affluent families in Singapore, Hong Kong, the United Arab Emirates and Switzerland.
The model is designed to let Bitcoin holders plan for inheritance and long-term wealth without selling their holdings. However, because both collateral and benefits are in Bitcoin, the value of policies can fluctuate substantially against fiat currencies, meaning the product carries risks distinct from traditional life insurance. Reporting on the valuation varies, with one earlier report citing a $100 million valuation for a $19 million raise.
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