DECRYPT · 2026-10-10 16:01 UTC

This Sam Altman-Backed Life Insurer Runs Entirely on Bitcoin, and Just Raised $37.5 Million

Meanwhile, a Bitcoin-native life insurer backed by Sam Altman, raised $37.5 million from investors including Bain Capital Crypto, bringing total funding to over $180 million. The company, licensed in Bermuda since July 2024, operates entirely on Bitcoin with all reserves and financials denominated in BTC, and launched its BTC Life 1-Pay single-premium policy for high-net-worth international clients in early 2026. Meanwhile has signed 15 brokers across Singapore, Hong Kong, UAE, and Switzerland, with net long-term underwriting income already exceeding last year's total.

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