Bitcoin Insurance Startup Hits $190M Valuation: Is This the Future or Just a Fad? 💰🤔

by

So, there’s this insurance startup that’s decided to pay out policyholders in Bitcoin (BTC) because, you know, cash is so last century. They’re now valued at a whopping $200 million after a fundraising round that was more successful than my last attempt at baking a soufflé. 🍰

According to a report by Fortune (which I assume is a fancy way of saying “someone on the internet”), the crypto life insurance firm Meanwhile has raised $40 million. That’s right, folks, $40 million! I can barely raise $40 for my coffee habit. ☕️

This fundraising extravaganza included participation from Bitcoin-focused bank Xapo and Silicon Valley’s very own Wences Casares, who probably has a pet rock that’s also worth a million bucks. 🪨

Meanwhile operates entirely in Bitcoin, which means policyholders pay in BTC and beneficiaries get their payouts in the same crypto currency. It’s like a never-ending game of Monopoly, but instead of fake money, it’s all about the digital gold. 🎲

Zach Townsend, the CEO and co-founder of Meanwhile, told Fortune that they’ve doubled their valuation since the 2022 funding round. I mean, if only my stock portfolio could do the same! 📈

He also mentioned that they prefer BTC over fiat currency because, apparently, Bitcoin is the superhero that saves us from inflation. Who knew? I thought my credit card was the only thing saving me from my shopping addiction. 💳

As Zach put it, “It may feel like the dollar is not as sure a store of value as it might have been in the past. So the idea of storing some value for your kids… in this global, censorship-resistant, decentralized, uncontrollable currency in Bitcoin is very attractive.” Wow, that’s a mouthful! Can I get that in a tweet? 🐦

Meanwhile makes its profits by investing the BTC it collects from policyholders to fulfill its death benefit obligations. Because nothing says “I love you” like a payout in Bitcoin when you kick the bucket! 💀

Read More

2025-04-13 22:01