Meanwhile, a Sam Altman-backed bitcoin life insurance provider, raised $37.5M led by Bain Capital, sources say at a $350M valuation, up from $190M in April 2025

Your bitcoin holdings can now be used to secure a life insurance policy.

A bitcoin life insurance provider, backed by Sam Altman, has secured $37.5 million in a funding round led by Bain Capital. Sources familiar with the matter indicate the company achieved a valuation of $350 million. This valuation represents a significant increase from its previous valuation of $190 million, which was established in April 2025. The company's CEO, Zac Townsend, confirmed the funding round to Axios.

This funding round signals a growing institutional interest in the intersection of cryptocurrency and traditional financial services, particularly in niche insurance markets. The substantial valuation jump suggests investor confidence in the company's business model and its potential to capture a unique market segment. Bain Capital's leadership in the round lends further credibility to the burgeoning field of crypto-integrated financial products.

The success of this bitcoin-focused life insurance provider could pave the way for similar innovations in other insurance sectors, potentially attracting more venture capital to the crypto-financial space. It also highlights a shift towards digital assets being recognized not just as speculative investments but as foundational assets for broader financial planning and security.