This Sam Altman-Backed Life Insurer Runs Entirely on Bitcoin, and Just Raised $37.5 Million — SkimNews
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- Meanwhile raised $37.5 million from existing investors led by Bain Capital Crypto, with Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures, and Morgan Creek Digital participating.
- The company, backed by OpenAI CEO Sam Altman, has now raised more than $180 million in total.
- Meanwhile received the first license of its kind from the Bermuda Monetary Authority in July 2024 after two years in a regulatory sandbox, with all policyholder Bitcoin held by regulated institutional custodians.
- The raise follows a record year driven by BTC Life 1-Pay, a single-premium whole life policy launched in early 2026 for high-net-worth clients outside the U.S.
- Under the policy, a client pays once in Bitcoin, receives a guaranteed Bitcoin death benefit, and can borrow up to 90% of the policy's value after the first year with no repayment schedule or margin calls.
- Meanwhile has signed 15 brokers across Singapore, Hong Kong, the UAE, and Switzerland, and says its net long-term underwriting income has already surpassed last year's total.
Why it matters: Meanwhile's $37.5M round from heavyweight crypto and traditional-finance investors (Apollo, Northwestern Mutual, Morgan Creek) validates a regulatory-first model for Bitcoin-native insurance: BMA license, audited BTC balance sheet, institutional custody. With 15 international brokers signed and underwriting income already eclipsing last year, Meanwhile is proving there's real policy-level demand—not just speculative interest—for putting life insurance on a Bitcoin standard.
Ask SkimNews
