Meanwhile, Insurance announced Bitcoin (Bermuda) Limited (“Meanwhile”) that it has become the first company in the world to release external audited accounts that were completely in Bitcoin. According to the message, the company reported 220.4 BTC in assets and 25.29 BTC in net income for 2024, an increase of 300% year over the year.
“We just made history as the first company in the world to have bitcoin-denominated accounts that are externally revised,” said Zac Townsend, CEO of in the meantime. “This is an important, basic step in reimaging the financial system based on a single, global, decentralized standard outside of control of any government.”
The accounts were audited by Harris & Trotter LLP and its Digital Asset Division Ht.digital. Meanwhile, the Bermuda’s Insurance Act also complies with the 1978 Insurance Act, noting that their BTC -Denominated financial was approved and complied with official guidelines. The company, fully licensed by Bermuda Monetary Authority (BMA), operates completely in BTC and is forbidden to liquidate Bitcoin assets except through policyholder uses, place it as a long -term proprietor.
“As the first regulated Bitcoin-Life Insurance Company, we see BTC, which is contained in the meantime as an inherent long-term in nature-primarily to support the company’s insurance obligations for decades,” Townsend added. “This makes it significantly ‘sticky’ and resistant to market pressure compared to BTC, which other companies have, as part of their state management strategies.”
Meanwhile, Economic 2024 also revealed 23.02 BTC in net premiums and 4.35 BTC in investment revenue, which shows that its model not only preserves Bitcoin but earns it. The company’s reserves (also held in BTC) were reviewed and approved by Willis Towers Watson (WTW).
Meanwhile, also offers a Bitcoin Whole Life Insurance product that allows policyholders to save, borrow and build Legacy Wealth – Eniily in BTC and plan to expand globally by 2025.
“We are incredibly proud of today’s news as it emphasizes where in the meantime is at the forefront of the next phase of the convergence between Bitcoin and institutional financial markets,” said Tia Beckmann, CFO for in the meantime. “Now after generating net income in BTC, we have demonstrated that we earn it through a sustainable insurance model designed in the long term.”