Meanwhile is a life insurance company that provides policies denominated and settled entirely in Bitcoin (BTC). The company, licensed and regulated by the Bermuda Monetary Authority, offers whole life insurance products where premiums are paid, value accrues, and death benefits are distributed in Bitcoin, targeting long-term holders of the digital asset. ^{[1] [2]}

Overview

Meanwhile was established to address a perceived gap in the financial services market for individuals and institutions with significant Bitcoin holdings.

The company's core premise is that long-term Bitcoin holders should have the ability to manage their wealth and plan for the future within the Bitcoin ecosystem, without needing to convert their assets to fiat currency. Its flagship product is a whole life insurance policy structured to operate exclusively in BTC. Policyholders pay premiums in Bitcoin, and their beneficiaries receive a guaranteed, fixed-BTC death benefit. ^[1]

The company's business model is built on investing its reserves to generate Bitcoin-denominated returns, distinguishing it from traditional insurers that target U.S. dollar or other fiat currency returns. This strategy is intended to grow the policy's value in BTC terms over time. Operationally, all insurance business is conducted exclusively in Bermuda, where its carrier, Meanwhile Insurance Bitcoin (Bermuda) Limited, is licensed. The company has attracted significant venture capital from both crypto-native firms and traditional financial institutions, including Bain Capital Crypto, Haun Ventures, Pantera Capital, and Northwestern Mutual. ^{[1] [2]}

As of October 2025, the company reported having hundreds of policyholders and managing over 660 BTC in assets, a significant increase from the 220 BTC it held in the previous year. Zac Townsend, the company's CEO, noted that this growth reflects business expansion rather than market price fluctuations of Bitcoin. He stated that the increase is "measured entirely in BTC terms and unrelated to price appreciation, reflecting business growth rather than market movement." The company's team consists of 19 employees. ^[2]

History

Meanwhile gained public attention in 2025 through a series of significant funding rounds that established its position in the market. In April 2025, the company announced it had closed a $40 million Series A funding round, which valued the company at $190 million. This round was noted as Framework Ventures' largest equity investment to date at the time. ^{[1] [2]}

Later in the year, the company attracted further investor interest. According to CEO Zac Townsend, Haun Ventures and Bain Capital Crypto approached Meanwhile in July 2025 to lead a pre-emptive funding round. A term sheet was signed in August, and the deal was officially closed in September.

On October 7, 2025, Meanwhile publicly announced it had raised an additional $82 million. This brought the company's total funding to $143 million. Townsend described the valuation for this round as a "significant upround" from its previous $190 million valuation, though the specific new valuation was not disclosed. The primary purpose of this capital infusion was to purchase Bitcoin for the company's balance sheet, thereby strengthening its capital base to underwrite more policies. ^[2]

Technology and Business Model

Meanwhile's operations combine traditional insurance principles with modern technology and a Bitcoin-native investment strategy. The company's model is designed to generate yield and manage risk within the Bitcoin standard.

AI-Powered Underwriting

The company utilizes Artificial Intelligence (AI) in its underwriting process. According to Meanwhile, this approach is implemented to increase transparency and help eliminate hidden biases that can be present in traditional underwriting methods. The use of AI is intended to provide applicants with greater clarity on how their policies are evaluated and priced. ^[1]

Investment and Yield Generation Strategy

To generate returns and fund its obligations, Meanwhile engages in what it describes as "conservative" private credit and long-term lending activities. The company lends its Bitcoin reserves to institutional counterparties, which include market makers, Bitcoin miners, and asset managers. All lending is conducted in a secured or over-collateralized manner, a risk management practice that the company states is consistent with the standards of traditional insurance firms. This strategy allows the company to generate a yield denominated in Bitcoin, which is essential for growing its policyholders' value in BTC terms. ^[2]

Products and Services

The company's primary offering is a Bitcoin-denominated whole life insurance policy designed for individuals seeking to preserve and transfer their Bitcoin wealth.

Bitcoin-Denominated Whole Life Insurance

This policy is structured so that all financial components are managed in Bitcoin.

• Premiums and Benefits: Policyholders pay fixed annual premiums in BTC for a period of 10 years. Upon the policyholder's death, their beneficiaries receive a guaranteed, fixed-BTC death benefit.
• Coverage: The available coverage ranges from a minimum of approximately 0.25 BTC to a maximum of 50 BTC.
• Inheritance Planning: The service is designed to simplify the inheritance process for Bitcoin. Meanwhile manages the direct transfer of the BTC death benefit to beneficiaries, removing the technical complexities associated with self-custody, such as managing hardware wallets or private keys.
• Tax Efficiency: The company states that the growth in the policy's Bitcoin value is tax-efficient, potentially allowing beneficiaries to receive a larger amount of BTC than was paid in premiums without incurring a typical tax burden on the growth.

The policy is currently available to clients in the United States and Canada. ^{[1] [2]}

Policy Loans

After a policy has been active for two years, policyholders are eligible to borrow Bitcoin against the accumulated value of their policy. A notable feature of this loan is that the borrowed BTC receives a stepped-up cost basis, which is set to the fair market value of Bitcoin at the time the loan is issued. This mechanism allows the borrower to potentially sell the borrowed Bitcoin immediately without realizing capital gains tax on its prior appreciation. ^[1]

Corporate Structure and Regulation

Meanwhile operates through a specific corporate structure designed to comply with insurance regulations while serving a global client base.

• Licensed Carrier: The life insurance carrier is Meanwhile Insurance Bitcoin (Bermuda) Limited, which is licensed and regulated by the Bermuda Monetary Authority (BMA).
• Jurisdiction: All insurance business, including the solicitation, application, and sale of policies, is conducted exclusively in Bermuda. The company explicitly states that it does not conduct insurance business in any other jurisdiction.
• Affiliated Entities: The company also operates through affiliated entities, including Meanwhile Incorporated, based in San Francisco, California, and Meanwhile Services (Bermuda) Limited.

The company clarifies that it does not provide legal or tax advice and recommends that clients consult with their own professional advisors. ^[1]

Key People and Investors

The company is led by co-founder and CEO Zac Townsend and is supported by a range of prominent investors from the technology, cryptocurrency, and traditional finance sectors.

Leadership

• Zac Townsend: Co-founder and Chief Executive Officer. Townsend is the public representative of the company and has appeared on numerous industry podcasts, such as The Pomp Podcast and The Wolf of All Streets Podcast, to discuss the company's mission. ^[5]

Investors

Meanwhile has raised a total of $143 million from institutional and individual investors.

• Institutional Investors:
  • Haun Ventures (co-lead investor)
  • Bain Capital Crypto (co-lead investor)
  • Pantera Capital
  • Framework Ventures
  • Apollo
  • Northwestern Mutual
  • Fulgur Ventures
  • MS&AD Ventures
  • Mouro Capital
  • Stillmark
• Individual Investors:
  • Sam Altman
  • Wences Casares
  • Lachy Groom

As part of the October 2025 funding round, representatives from Bain Capital Crypto, Haun Ventures, and Pantera Capital joined the company as board observers. ^{[1] [2]}