Bitcoin Life Insurer Meanwhile Raises $82M to Scale Savings, Retirement in BTC

Core Insights - Meanwhile, a regulated life insurance company operating entirely in bitcoin, has raised $82 million to enhance its savings and retirement products aimed at protecting against inflation and currency devaluation [1][2] Funding and Investment - The funding round was co-led by Bain Capital Crypto and Haun Ventures, with participation from Pantera Capital, Apollo, Northwestern Mutual Future Ventures, and Stillmark [2] - This funding follows a previous $40 million round in April, led by Fulgur Ventures and Framework, with early investment from OpenAI CEO Sam Altman [2] Product Offering - Founded in Bermuda, Meanwhile offers life insurance and annuity products denominated in bitcoin, allowing policyholders to save and transfer wealth in an asset with a fixed supply [3] - The service aims to protect customers against inflation and currency devaluation, although policyholders are exposed to bitcoin's price volatility [3] - Products are regulated by the Bermuda Monetary Authority and designed to mirror traditional long-term financial tools, but in bitcoin [3] Financial Strategy - The company generates returns on held bitcoin through long-term lending to private credit markets, which helps meet claims obligations and maintain solvency standards similar to traditional insurers [4] Market Position and Growth - Meanwhile's approach has gained traction among individuals and institutions, reflecting a growing interest in alternatives to dollar-based insurance and treasury products [5] - The company's bitcoin assets under management have increased over 200% this year, significantly outpacing bitcoin's 34% year-to-date growth [5] Future Plans - The new capital will be utilized to partner with traditional insurers, expand internationally, and develop new bitcoin-linked retirement tools that comply with regulatory standards [6]