Also Insurance Bitcoin Limited (Bermuda).”Meanwhile”) announced It is the first global company to publish externally audited, in-currency financial statements. Bitcoin. The announcement stated that the company had reported assets of 220.4 BTC and a net profit of 25.29 BTC for 2024. This represents a 3000% increase year-over-year.
“We’ve just made history as the first company in the world to have Bitcoin-denominated financial statements externally audited,” said Zac TownsendA CEO at Meanwhile. “This is an important, foundational step in reimagining the financial system based on a single, global, decentralized standard outside the control of any one government.”
The financial statements were audited by Harris & Trotter LLP and its digital asset division ht.digital. Financials are also in line with Bermuda’s Insurance Act 1978Noting that the firm’s BTC-denominated financials are approved and conform to official guidelines. Fully licensed by Bermuda Monetary Authority, the firm operates in BTC only and cannot accept any other currency. liquidating Bitcoin Assets except by policyholder claims. Positioning it as a long-term holder.
“As the first regulated Bitcoin life insurance company, we view the BTC held by Meanwhile as inherently long-term in nature—primarily held to support the Company’s insurance liabilities over decades,” Townsend is added. “This makes it significantly ‘stickier’ and resistant to market pressures compared to the BTC held by other companies as part of their treasury management strategies.”
In 2024, the financials revealed that 23.02 BTC was earned in net premiums as well as 4.35 BTC from investment income. It is clear that this model doesn’t just conserve Bitcoin; it also earns bitcoin. Willis Towers Watson reviewed the company’s BTC reserves and gave it their approval.
Meanwhile also offers a Bitcoin Whole Life insurance product that allows policyholders to save, borrow, and build legacy wealth—entirely in BTC, and has plans to expand globally in 2025.
“We are incredibly proud of today’s news as it underscores how Meanwhile is at the forefront of the next phase of the convergence between Bitcoin and institutional financial markets,” Tia Beckmann is the CFO at Meanwhile. “Now having generated net income in BTC, we have demonstrated that we are earning it through a sustainable insurance business model designed for the long term.”
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Source: bitcoinmagazine.com
