Sam Altman Invests in Life Insurance Paid in Bitcoin

Meanwhile, a company from Bermuda offers life insurance policies paid in Bitcoin, with payouts also in BTC upon death. Sam Altman, the head of OpenAI, has invested in the company, which has raised $37.5 million, led by Bain Capital Crypto, bringing the total amount raised by Meanwhile to over $180 million. The new funds will support expansion into Asian, European, and Middle Eastern markets. The flagship service is BTC Life 1-Pay, where customers make a one-time payment in Bitcoin in exchange for a whole life policy. After one year, they can borrow funds up to the value of the policy, which affects the payout of benefits. The clients are mainly wealthy individuals outside the USA. Meanwhile operates under a license from the Bermuda Monetary Authority, and clients' assets are held by regulated custodians. The company has signed agreements with fifteen brokers serving wealthy families in Singapore, Hong Kong, the United Arab Emirates, and Switzerland. Altman is one of the investors but does not run the company or participate in this funding round.

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