Sam Altman-Backed Bitcoin-Only Life Insurer Raises $37.5 Million

Bitcoin-only life insurer — A Bermuda-based life insurance company that operates exclusively on the Bitcoin blockchain has secured $37.5 million in new funding from existing investors, led by Bain Capital Crypto.

The firm, which is backed by OpenAI CEO Sam Altman, reported a record year of growth driven by demand from high-net-worth families in Asia, Europe, and the Middle East. The company’s entire business model, including policy issuance and premium payments, is denominated and settled in Bitcoin.

The new capital injection follows a period of significant expansion for the insurer, which has positioned itself as a pioneer in using Bitcoin as a foundational asset for traditional financial services. The funding round was led by existing backers, signaling continued confidence from venture capital in Bitcoin-native business infrastructure.

The company’s model allows clients to use Bitcoin for long-term financial planning and wealth preservation, tapping into a growing institutional and private wealth interest in the cryptocurrency as a core holding. The raise highlights ongoing venture investment in crypto projects that bridge digital assets with established financial sectors.