Cryptocurrency Startup Secures $40 Million in Funding to Launch “Bitcoin Life Insurance,” with Investment from OpenAI CEO

On April 10, 2025, cryptocurrency insurance startup Meanwhile announced the completion of a $40 million Series A financing round, aimed at expanding its Bitcoin-denominated “whole life insurance” business. The company specifically targets countries and regions that are “vulnerable to inflation,” providing policyholders seeking hedging with a new option denominated in illegal currencies.

This funding round was led by Framework Ventures and Fulgur Ventures, with participation from Xapo founder Wences Casares. Meanwhile had previously secured $20.5 million in seed funding, with investors including prominent figures such as OpenAI CEO Sam Altman.

Meanwhile is currently regulated by the Bermuda Monetary Authority and has launched a whole life insurance product priced in Bitcoin. These products allow policyholders to pay premiums with Bitcoin and access policy value at any time through policy loans or partial withdrawals. In the event of the insured’s death, beneficiaries will receive the payout in Bitcoin.

Zac Townsend, co-founder of Meanwhile, stated in an interview with Fortune that the product operates similarly to traditional life insurance, but both premiums and payouts are entirely denominated in Bitcoin. He added that this product specifically caters to clients living in high-inflation or currency-unstable regions. For example, the severe fluctuations of emerging market currencies or the long-term inflation trends in Western economies represent its potential market.

Why use Bitcoin as a life insurance benchmark?

Bitcoin, due to its limited supply and decentralized design, has been regarded by early users as a “store of value” against inflation. However, whether it genuinely possesses the inflation-hedging capability in the traditional sense remains a topic of debate.

According to a study published in the Journal of Economics and Business in 2025, Bitcoin’s inflation-hedging capability has weakened in recent years due to its increasing correlation with institutional investor demand. The study noted that during the surge of U.S. inflation to a 40-year high (over 9%) in 2022, Bitcoin’s price actually plummeted by 60%.

However, some analysts counter this argument, asserting that Bitcoin’s rise during the pandemic was precisely because investors anticipated massive government stimulus measures would drive inflation, prompting them to position themselves early. Investor and analyst Anthony Pompliano stated, “When investors perceive inflation is coming, they rush to buy Bitcoin.”

Regardless of whether Bitcoin strictly meets the definition of an “inflation-hedging tool,” its performance since inception has significantly outpaced the depreciation rate of fiat currency purchasing power.