Sam Altman-Backed Meanwhile Raises $37.5M to Sell Bitcoin Life Insurance Outside the U.S.

Published October 10, 2026, 13:45 PKT. Based on Meanwhile's October 9, 2026 Business Wire announcement, The Block's October 9 report, and CoinDesk's October 9 coverage.

Meanwhile, the bitcoin-denominated life insurer backed by OpenAI chief executive Sam Altman, raised $37.5 million from existing investors to fund its expansion outside the United States, the company said in a Business Wire announcement on October 9. The round was led by Bain Capital Crypto and brings the Bermuda-based insurer's total funding to more than $180 million.

The $37.5 million raise

Bain Capital Crypto led the round, with existing backers Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures, and Morgan Creek Digital also participating, according to the announcement. The new money follows an $82 million round in October 2025 that Bain Capital Crypto co-led with Haun Ventures, and a $40 million Series A in April 2025.

The latest raise comes roughly a year after the $82 million round, and Meanwhile has now stacked three venture rounds totaling over $180 million in less than two years. The company said the capital will support distribution growth as it pushes into wealth markets beyond the U.S.

BTC Life 1-Pay: one premium, bitcoin benefit

Meanwhile's flagship product, BTC Life 1-Pay, launched early in 2026 and targets high-net-worth clients outside the United States. The product is a single-premium whole life policy: the customer pays one bitcoin premium and receives a guaranteed death benefit denominated in bitcoin, according to the company's product materials.

The policy also lets holders borrow against their coverage, with loans of up to 90% of the policy value available after the first year, carrying no fixed repayment schedule and no margin calls, the company says. For U.S. taxpayers, Meanwhile offers a separate product, BTC 10-Pay, with premiums and benefits denominated in bitcoin but structured for domestic tax treatment.

1,183 BTC on the balance sheet

Meanwhile reported audited figures in April 2026 showing 1,183 BTC in total assets at the end of 2025, up more than fivefold from the prior year. The audit showed 759 BTC in statutory capital and surplus, the capital buffer regulators use to measure an insurer's ability to pay claims.

The company said its net long-term underwriting income had already exceeded last year's total and that it was on track to more than double the figure in 2026. Meanwhile has held a Bermuda Monetary Authority insurance license since 2024.

15 brokers and the non-U.S. push

Distribution is the stated purpose of the new capital. Meanwhile said it has signed 15 broker partners across Singapore, Hong Kong, the UAE, and Switzerland, including firms such as Lioner and Apeiron Group, according to the announcement. The brokers serve high-net-worth clients, the market Meanwhile says BTC Life 1-Pay is built for.

The insurer's bet is that bitcoin holders with generational wealth want insurance products that keep both premiums and payouts in the asset itself, rather than converting in and out of fiat currencies at each step. Whether traditional private banks and wealth managers steer clients toward a Bermuda bitcoin insurer is the open question the new funding round buys time to answer.

This article is news reporting and is not investment advice.

Sources

• Meanwhile's October 9, 2026 Business Wire announcement of the $37.5 million funding round, primary source for the raise, participants, total funding, and product and broker details
• The Block, Sam Altman-backed bitcoin life insurer Meanwhile raises $37.5 million round led by Bain Capital Crypto (Oct. 9, 2026), secondary source
• CoinDesk, Sam Altman-backed bitcoin insurer Meanwhile secures $37.5 million in Bain Capital Crypto-led round (Oct. 9, 2026), secondary source