Meanwhile Advisors, associated with Sam Altman, has unveiled a groundbreaking private credit fund denominated in Bitcoin. The Meanwhile BTC Private Credit Fund aims to offer a conservative yield in Bitcoin while lending funds to institutional counterparties. This closed fund promises investors a 5% yield and plans to convert U.S. dollar investments into BTC. Zac Townsend, co-founder and CEO of Meanwhile Group, highlighted the fund’s unique potential in enabling institutional investors to maximize their Bitcoin holdings. Meanwhile Group, backed by figures like Sam Altman and supported by organizations such as OpenAI and Google’s Gradient Ventures, has previously made strides in the Bitcoin life insurance sector with its Bermuda-based Meanwhile Insurance. This development is a significant step in the integration of cryptocurrency into traditional financial services, following the footsteps of companies like New York Digital Investment Group, which have already secured substantial funding for Bitcoin-powered insurance solutions in the U.S.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.