Bitcoin Life Insurance Firm Meanwhile Releases 2024 Audited Financial Statements
A Bermuda-based life insurance firm, Meanwhile, released its 2024 audited financial statements, becoming one of the first companies fully operating in bitcoin to do so.
- Clients pay premiums and receive payouts in bitcoin, unaffected by dollar fluctuations.
- The audit, conducted by Harris & Trotter, revealed total assets of 220.4 BTC and net income of 25.29 BTC for the year ending December 31, 2024.
- Meanwhile accumulates bitcoin through business operations rather than complex financial products.
- Bermuda regulations prevent selling of assets, with most bitcoins held on clients' behalf.
- CEO Zac Townsend emphasized that bitcoin-denominated life insurance mitigates inflation risks associated with traditional currencies.
- The audit is a foundational step toward a decentralized financial system independent of government control.