Bitcoin life insurer Meanwhile raises $37.5 million in Bain Capital Crypto-led round
Bermuda-based bitcoin life insurer Meanwhile raised $37.5 million from existing investors led by Bain Capital Crypto, lifting total funding past $180 million.
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Why it matters
Meanwhile is pushing a balance sheet denominated in bitcoin outside the US, and its audited holdings reached 1,183 BTC of total assets at the end of 2025 against 759 BTC of statutory capital and surplus. The licence to hold reserves and pay death benefits in bitcoin comes from Bermuda alone, so how other regulators treat the model is untested.
Where the sources disagree
Figures that do not reconcile
Found by comparing the numbers in the reports automatically. They are differences, not yet confirmed to be about the same thing.
size of the raise
$37.5 million
CoinDesk
$82 million
The Block
CoinDesk reports $37.5 million, The Block reports $82 million (54% apart).
size of the raise (meanwhile raised)
$37.5 million
CoinDesk
$19 million
Bitcoin.com News
CoinDesk reports $37.5 million, Bitcoin.com News reports $19 million (49% apart).
size of the raise
$82 million
CoinDesk
$37.5 million
Bitcoin Insider
CoinDesk reports $82 million, Bitcoin Insider reports $37.5 million (54% apart).
size of the raise (raised)
$82 million
CoinDesk
$37.5 million
Bitcoin Magazine
CoinDesk reports $82 million, Bitcoin Magazine reports $37.5 million (54% apart).
size of the raise
$82 million
CoinDesk
$37.5 million
Cointelegraph
CoinDesk reports $82 million, Cointelegraph reports $37.5 million (54% apart).
size of the raise (funding round)
$37.5 million
Bitcoin Insider
$82 million
The Block
Bitcoin Insider reports $37.5 million, The Block reports $82 million (54% apart).
size of the raise
$37.5 million
Bitcoin Insider
$19 million
Bitcoin.com News
Bitcoin Insider reports $37.5 million, Bitcoin.com News reports $19 million (49% apart).
size of the raise (meanwhile)
$37.5 million
The Block
$19 million
Bitcoin.com News
The Block reports $37.5 million, Bitcoin.com News reports $19 million (49% apart).
size of the raise (funding)
$82 million
The Block
$37.5 million
Bitcoin Magazine
The Block reports $82 million, Bitcoin Magazine reports $37.5 million (54% apart).
size of the raise (announced funding)
$82 million
The Block
$37.5 million
Cointelegraph
The Block reports $82 million, Cointelegraph reports $37.5 million (54% apart).
size of the raise (raised)
$19 million
Bitcoin.com News
$37.5 million
Bitcoin Magazine
Bitcoin.com News reports $19 million, Bitcoin Magazine reports $37.5 million (49% apart).
size of the raise
$19 million
Bitcoin.com News
$37.5 million
Cointelegraph
Bitcoin.com News reports $19 million, Cointelegraph reports $37.5 million (49% apart).
size of the raise (meanwhile raised)
$19 million
Bitcoin.com News
$37.5 Million
Decrypt
Bitcoin.com News reports $19 million, Decrypt reports $37.5 Million (49% apart).
Key facts
Meanwhile raised $37.5 million in a funding round led by Bain Capital Crypto.
37,500,000 USDDisputed figureReported by CoinDesk
The round brings Meanwhile's cumulative funding to $180 million according to CoinDesk and to more than $180 million according to six other outlets.
180,000,000 USDDisputed figureReported by CoinDesk
Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures and Morgan Creek Digital joined Bain Capital Crypto in the round.
Reported by CoinDesk
The new round follows an $82 million raise in October 2025 co-led by Bain Capital Crypto and Haun Ventures.
82,000,000 USDDisputed figureReported by CoinDesk
Meanwhile previously closed a $40 million Series A in April 2025.
40,000,000 USDReported by The Block
Meanwhile reported 1,183 BTC in total assets at the end of 2025, up more than fivefold from a year earlier, and 759 BTC in statutory capital and surplus.
1,183 BTCReported by The Block
Meanwhile launched BTC Life 1-Pay in early 2026, a single-premium whole life policy for high-net-worth clients outside the US and its second product line after BTC 10-Pay.
Reported by CoinDesk
What happened
Meanwhile, a Bermuda-based life insurer that says it is licensed to run entirely on bitcoin, raised $37.5 million from existing investors in a round led by Bain Capital Crypto, with Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures and Morgan Creek Digital also taking part. The company announced the round on Thursday and put its cumulative funding at $180 million, while The Block, Bitcoin.com, Bitcoin Magazine, Cointelegraph, Decrypt and Crypto News each describe the total as more than $180 million. Sam Altman is a backer, and Bitcoin.com reported that Altman and former Stripe executive Lachy Groom led one of two seed rounds in 2023 that raised $19 million. The round follows an $82 million raise in October 2025 co-led by Bain Capital Crypto and Haun Ventures and a $40 million Series A in April 2025, and Meanwhile reported 1,183 BTC of total assets at the end of 2025, up more than fivefold from a year earlier, alongside 759 BTC of statutory capital and surplus. Meanwhile has signed 15 broker partners, which CoinDesk places in Switzerland, Singapore, Hong Kong and the UAE, and it says net long-term underwriting income has already passed last year's total with a target of doubling 2026 underwriting income, both figures coming from the company's own announcement. Decrypt reported that the Bermuda Monetary Authority licensed Meanwhile in July 2024 after two years in the regulator's sandbox, that the company calls it the first licence of its kind, and that policyholder bitcoin is held at regulated institutional custodians.
How the story developed
- Official statement
Meanwhile announces the $37.5 million Bain Capital Crypto-led round
The company said existing investors funded the round, which it dated to Thursday.
- First report
First report by CoinDesk
Sam Altman-backed bitcoin insurer Meanwhile secures $37.5 million in Bain Capital Crypto-led round
- Update
CoinDesk reports the round and the $180 million cumulative total
First outlet report, also naming 15 brokers in Switzerland, Singapore, Hong Kong and the UAE.
- Independent corroboration
Independently corroborated by The Block
Sam Altman-backed bitcoin life insurer Meanwhile raises $37.5 million round led by Bain Capital Crypto
- Update
The Block publishes audited 2025 figures
1,183 BTC of total assets at the end of 2025, up more than fivefold year on year, and 759 BTC of statutory capital and surplus.
- Official statement
Official statement from Bitcoin.com News
Bain Capital Leads $37.5M Investment in Bitcoin Life Insurance Firm
- Update
Bitcoin.com reports the 2023 seed round and the 2026 underwriting target
Altman and Lachy Groom led a $19 million seed round in 2023, and Meanwhile says it aims to double its 2026 underwriting income.
- Update
Bitcoin Magazine carries Townsend's quote and the BTC Life 1-Pay borrowing terms
After the first year an owner can borrow up to 90% of the policy value with no repayment schedule and no margin calls.
- Update
Decrypt details the Bermuda licensing history
The Bermuda Monetary Authority licence came in July 2024 after two years in the regulator's sandbox, and policyholder bitcoin is held with regulated institutional custodians.
How coverage built up
Independent sources over time, counted the way the consensus panel counts them: a republication of a wire story does not move the line.
- 9 Oct 2026, 09:06 UTC: CoinDesk — 1 independent source, 1 reports
- 9 Oct 2026, 10:08 UTC: Bitcoin Insider — 2 independent sources, 2 reports
- 9 Oct 2026, 10:33 UTC: The Block — 3 independent sources, 3 reports
- 9 Oct 2026, 18:20 UTC: Bitcoin.com News, official — 4 independent sources, 4 reports
- 10 Oct 2026, 00:53 UTC: Bitcoin Magazine — 5 independent sources, 5 reports
- 10 Oct 2026, 07:10 UTC: Cointelegraph — 6 independent sources, 6 reports
- 10 Oct 2026, 16:01 UTC: Decrypt — 7 independent sources, 7 reports
Affected entities
Original sources
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