Altman-Backed Insurer Raises $37.5M, Runs Entirely on Bitcoin

Bermuda-Based Insurer Secures $37.5 Million as Demand for Bitcoin Policies Surges

Meanwhile, a life insurance company operating exclusively with Bitcoin, has announced a $37.5 million funding round, signaling growing demand for its distinctive policies among affluent international families.

The Bermuda-based insurer revealed on Thursday that the capital infusion came from its existing investor base, spearheaded by Bain Capital Crypto. The round also saw participation from Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures, and Morgan Creek Digital.

With backers that include OpenAI CEO Sam Altman, Meanwhile has now accumulated over $180 million in total funding.

The company positions itself as the inaugural life insurer licensed to operate entirely on the Bitcoin network, with its balance sheet, reserves, and audited financial statements all denominated in the cryptocurrency. Meanwhile stated it obtained its unique license from the Bermuda Monetary Authority in July 2024, following a two-year period in the regulator’s sandbox. The firm emphasizes that all policyholder Bitcoin is held with regulated institutional custodians.

This latest funding follows what the company described as a record year, largely propelled by international interest. In early 2026, Meanwhile launched BTC Life 1-Pay, a single-premium whole life policy designed for high-net-worth clients outside the United States. This product complements its initial offering, a 10-payment version tailored for American taxpayers.

Under the single-premium policy, clients make a one-time payment in Bitcoin and receive a guaranteed death benefit in Bitcoin for life. The policy’s value is designed to grow in Bitcoin, and owners can borrow up to 90% of its value after the first year without a repayment schedule or margin calls.

Meanwhile reported signing 15 brokers since its launch, establishing a presence in key insurance markets such as Singapore, Hong Kong, the UAE, and Switzerland. The company also noted that its net long-term underwriting income has already surpassed its total for the previous year.

“Wealthy families around the world already hold Bitcoin. What they haven’t had is a regulated way to pass it on,” said Zac Townsend, Meanwhile’s co-founder and CEO.

The funding round underscores a broader trend of integrating Bitcoin into traditional financial products. Last year, Delaware Life partnered with BlackRock to offer Bitcoin exposure through a fixed indexed annuity, indicating a growing inclination among insurers to pair the volatile asset with long-term financial planning vehicles.