Meanwhile, a life insurer licensed by the Bermuda Monetary Authority, just closed an $82 mn funding round aimed at scaling bitcoin-denominated retirement and savings products.
Bain Capital Crypto and Haun Ventures co-led the deal, with Pantera Capital joining in, alongside Apollo, Northwestern Mutual Future Ventures, and Stillmark.
The raise arrives on the back of strong appetite for inflation-proof financial products, according to our data, and pushes Meanwhile’s total capital in 2025 to $122 mn.
Meanwhile sequred a $40 mn Series A earlier this year from Framework Ventures and Fulgur Ventures.
Investors clearly see the play: build traditional insurance and annuity wrappers around Bitcoin, then push them to policyholders seeking shelter from currency erosion.
Zac Townsend, Meanwhile’s CEO, compared the model to the long-standing role insurers play in capital markets—steadying flows, providing ballast, underwriting risk.
He argued that Bitcoin deserves the same treatment: predictable protection, long-term accumulation, and compliant structures institutions can actually use. He also suggested that the new capital will expand partnerships worldwide, giving the company reach well beyond Bermuda.
Life insurers have always provided the steady, long-term capital that keeps financial markets moving.
Zac Townsend, CEO of Meanwhile
“We’re bringing that same role to Bitcoin—helping families save and protect wealth in BTC, while giving institutions new ways to earn returns and launch bitcoin-indexed products that are compliant and easy to scale. This raise lets us build on what’s working and expand it with partners around the world,” said Zac Townsend, CEO of Meanwhile.
The products themselves aren’t wild experiments. They stick close to life insurance and annuity mechanics, but with BTC at the center instead of fiat.
The firm insists its solvency and reserves match standards set for heavyweight reinsurers, pointing to Brit Re as a benchmark. The sales pitch rests on combining regulatory-grade security with Bitcoin’s scarcity and resistance to inflation.
Chris Ahn of Haun Ventures cast the deal in bigger terms. He said the Bitcoin economy needs building blocks—insurance, pensions, mortgages—rather than just exchanges or token platforms. Meanwhile, in his view, represents the first credible mover creating those long-duration financial products.
At Haun Ventures, our thesis is that the Bitcoin economy needs more than trading platforms and DATs—it needs the core building blocks of capital markets.
Chris Ahn, Partner at Haun Ventures
“Just as the U.S. economy was built on insurance, pensions, and mortgages, the Bitcoin economy will require its own long-duration financial products. Meanwhile is the first mover in this category, and we believe it will unlock a new wave of innovation across Bitcoin-denominated markets,” said Chris Ahn.
Bain Capital Crypto’s Stefan Cohen added a blunt assessment: Bitcoin has to be practical, not speculative. Products need to be simple, compliant, scalable.
He said Meanwhile’s approach ticks those boxes, offering both individuals and institutions a way to treat BTC as part of long-term planning, not short-term trading.
Meanwhile is building simple, compliant, and lasting products that make Bitcoin practical for both people and institutions
Stefan Cohen, Partner at Bain Capital Crypto
The bet is clear. If Bitcoin is to mature into something larger than a volatile asset, it will need boring, reliable products—annuities, life cover, savings bonds. Meanwhile just bought itself more runway to make that happen.
Meanwhile Insurance Bitcoin (Bermuda), the life insurer fully denominated in Bitcoin (BTC), announced the completion and public release of its 2024 audited financial statements as required by statute.
This marks the first time globally that a company has released audited financial statements entirely denominated in BTC.
Licensed by the Bermuda Monetary Authority (BMA), Meanwhile operates exclusively in Bitcoin, combining insurance and cryptocurrency.
The audited financials, prepared under Bermuda’s Insurance Act 1978 and reviewed by Harris & Trotter LLP and its digital asset division ht.digital, report 220.4 BTC in total assets and a net income of 25.29 BTC for the year ending December 31, 2024 — a 300% increase year-on-year.
