If you own Bitcoin, love your kids, and hate taxes — read this
If you own Bitcoin, love your kids, and hate taxes — read this originally appeared on TheStreet.
In an interview with TheStreet Roundtable, Zac Townsend, Meanwhile's CEO, laid out how the Bermuda-licensed insurer lets Bitcoin holders lock in intergenerational savings while earning yield through private credit.
Meanwhile operates like a traditional whole life insurance company — regulated, licensed and backed by actuarial reserves — but everything is denominated in Bitcoin.
'It is a life insurance company like any other life insurance company. It is regulated and licensed in Bermuda, which is like the insurance capital of the world,' the founder said.
Policyholders pay premiums in Bitcoin and receive claims in Bitcoin, with all financials, reserves and regulatory filings handled on-chain.
The minimum policy requires one Bitcoin paid over ten years; the maximum base payout tops out at 50 Bitcoin. Meanwhile entrusts custody to Anchorage Digital, employing multi-party key management so no single person can move funds.
'Users have trusted us with hundreds of Bitcoin at this point,' the founder noted.
To deliver a guaranteed Bitcoin‐denominated benefit, Meanwhile runs a private credit portfolio. 'People pay us, let's say, ten Bitcoin for a policy. And we promise them 15,' the founder explained. By trading duration for credit protection, the company aims to transform premiums into reliable, fixed-payout yield without exposing policyholders to dollar volatility.
After raising $60 million over its first two years, Meanwhile secured a $40 million Series A to fund international expansion and product development. The next offerings include a deferred Bitcoin annuity — a tax‐advantaged savings vehicle — and corporate debt instruments settled in Bitcoin. Regulatory dialogues in key markets such as Canada, the U.K. and Singapore are already underway.
'If you own Bitcoin, you love your kids, you hate taxes, and you're not planning to sell,' the founder said, capturing Meanwhile's ethos of combining legacy planning with Bitcoin-denominated yield.
Meanwhile's model could reshape how crypto investors manage both wealth preservation and yield under one roof.
If you own Bitcoin, love your kids, and hate taxes — read this first appeared on TheStreet on Jun 17, 2025
This story was originally reported by TheStreet on Jun 17, 2025, where it first appeared.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
2 hours ago
- Yahoo
Dominant Chinese makers of bitcoin mining machines set up US production to beat tariffs
By Samuel Shen and Vidya Ranganathan SHANGHAI/SINGAPORE (Reuters) -The world's three best-selling makers of bitcoin mining machines - all of Chinese origin - are setting up manufacturing footholds in the United States as President Donald Trump's tariff war reshapes the cryptocurrency supply chain. Bitmain, Canaan and MicroBT build over 90% of global mining rigs - essentially computers dedicated to number-crunching that produces bitcoin. Establishing U.S. bases could shield them from tariffs but risks stoking security concerns the U.S. has with China in areas as varied as chip making and energy security. "The U.S.-China trade war is triggering structural, not superficial, changes in bitcoin's supply chains," said Guang Yang, chief technology officer at crypto tech provider Conflux Network. Moreover, for U.S. firms, "this goes beyond tariffs. It's a strategic pivot toward 'politically acceptable' hardware sources," Yang said. Bitmain, the biggest of the three by sales, started U.S. production of mining rigs in December in a "strategic move" following Trump's presidential electoral win a month earlier. Canaan started trial production in the U.S. with the aim of avoiding tariffs after Trump on April 2 announced his so-called Liberation Day levies, senior executive Leo Wang told Reuters. The initiative is exploratory as the volatile tariff situation precludes heavy investment, he said. Third-ranked MicroBT in a statement said it is "actively implementing a localisation strategy in the U.S." to "avoid the impact of tariffs". The trio dominate a sector analysts estimated to be worth $12 billion by 2028. It is the upstream of a business chain that extends through the energy-intensive process of mining bitcoin, the supporting IT infrastructure and the trading platforms. U.S. rival Auradine - backed by top bitcoin miner by market value, MARA Holdings - has been lobbying to restrict Chinese supplies to stimulate competition in hardware. "While over 30% of global bitcoin mining occurs in North America, more than 90% of mining hardware originates from China representing a major imbalance of geographic demand and supply," said Auradine's chief strategy officer, Sanjay Gupta. Consultancy Frost & Sullivan estimated the top three held 95.4% of the hardware market in terms of computing power sold as of December 2023. When it comes to Chinese mining rigs, "hundreds of thousands of them connected to the U.S. electrical grid" is a security risk, Gupta said. Canaan's Wang said mining rigs do not threaten security because "they are useless if not applied to bitcoin mining". Still, manufacturers could suffer "collateral damage" from U.S. restrictions on high-tech sales to Chinese firms, he said. Underscoring the risk, Bitmain's AI affiliate, Sophgo, has been blacklisted by the U.S. government on security grounds. Bitmain did not reply to a request for comment. FIRST-MOVER China once dominated the entire bitcoin value chain - from rig-making through mining to trading - until its government banned cryptocurrency activity on the Chinese mainland in 2021 citing risk to financial stability. Miners, traders and exchanges moved abroad. Shielded by their role as technology manufacturers, however, Bitmain, Canaan and MicroBT continued to dominate in hardware. They fended off Western rivals partly due to first-mover advantage in developing high-performance chips tailor-made for mining. Canaan has since moved its headquarters to Singapore from China - though it still has Chinese operations - and set up a pilot production line in the U.S., a market that contributed 40% of revenue last year. "The rationale is to try to reduce the cost for both us and our customers," said Wang, Canaan's vice president of corporate development and capital markets. The prospect of tariffs means "we have to explore all alternatives". The U.S. this year imposed a 10% baseline tariff on imports from many countries plus an extra 20% on imports from China. It has also said it could increase tariffs for Southeast Asian countries where Chinese rig makers have set up assembly plants. CHOKE POINT Trump has promised to be the "crypto president" who popularises cryptocurriencies' mainstream use in the United States. Son Eric Trump together with energy and technology firm Hut 8 launched miner American Bitcoin with the goal of building a strategic bitcoin reserve. The president's crypto-friendly policies, however, can only highlight China's outsized role in bitcoin infrastructure, potentially putting rig makers in the crosshairs. China's hardware dominance "creates a choke point for U.S. miners," said John Deaton, a U.S. crypto-law attorney. "If China restricts exports or manipulates supply ... it could disrupt bitcoin's network stability and affect U.S. users and investors," Deaton said. The biggest miners by market value - MARA, Core Scientific, CleanSpark and Riot Platforms - are all U.S.-based, so over-reliance on hardware of Chinese origin "is potentially problematic", said Ryan M. Yonk, an economist at the American Institute for Economic Research. Chinese rig makers might be setting up shop in the U.S. but in the short term, U.S. miners will still buy rigs from China and be stung by higher import costs, said Kadan Stadlemann, chief technology officer at crypto platform Komodo. "But this isn't about hurting the industry. It's about forcing a long-overdue shift," he said.
Yahoo
2 hours ago
- Yahoo
Bitcoin's $112K Peak Under Pressure: Is the Bull Run Taking A Breather Or Hitting the Brakes?
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Bitcoin's remarkable 2025 rally has hit a significant speed bump, with the cryptocurrency experiencing a sharp 6.61% decline to $104,369 by weekend trading. This retreat from its all-time high of $112,000 has left investors questioning whether this is merely a healthy correction in an ongoing bull market or a sign of deeper headwinds ahead. The immediate catalyst for Bitcoin's decline stems from escalating Middle East tensions. Israeli airstrikes on Iran overnight Thursday into Friday sent shockwaves through global markets, with Bitcoin falling sharply from $108,000 to around $103,000 at one point. This pattern mirrors previous geopolitical events where Bitcoin has initially sold off alongside other risk assets during periods of uncertainty. Don't Miss: — no wallets, just price speculation and free paper trading to practice different strategies. Grow your IRA or 401(k) with Crypto – . The broader market reaction underscores how interconnected global assets have become during crisis periods. The Nasdaq's 1.31% decline and West Texas Intermediate crude's 7.26% surge highlight the classic 'risk-off' trade, where investors flee to traditional safe havens like gold and government bonds while dumping cryptocurrencies and growth stocks. From a technical analysis perspective, Bitcoin's recent price action presents a more concerning picture than the geopolitical noise might suggest. The formation of a lower high from the all-time high represents a potential shift in momentum, with the cryptocurrency now testing critical support levels. The key battleground sits at $100,300 – a significant swing low established on June 5. This level carries particular importance as it represents the confluence of technical support and psychological significance. A sustained hold above this threshold could allow Bitcoin to consolidate and potentially resume its upward trajectory. However, a breakdown below $100,300 could trigger more aggressive selling, potentially targeting the yearly opening price of $93,548. Such a move would represent a nearly 20% decline from current levels and could signal a more substantial correction in the broader cryptocurrency market. Current market conditions reveal thin liquidity and weak demand – a common occurrence during weekend trading but exacerbated by geopolitical uncertainty. This environment can amplify price movements in both directions, making technical levels even more critical as potential inflection points. The weekend trading dynamic typically sees reduced institutional participation, leaving retail traders and algorithmic systems to drive price action. In such conditions, large orders can create outsized moves, potentially triggering cascading effects if key support levels break. Trending: New to crypto? on Coinbase. While the current decline feels significant, it's worth contextualizing this move within Bitcoin's broader historical patterns. Bull market corrections of 15%-30% are not uncommon for Bitcoin, and previous geopolitical events have often provided temporary buying opportunities rather than permanent trend reversals. The 2024 Israel-Iran conflict provides a relevant comparison point. During that episode, Bitcoin initially sold off sharply but recovered relatively quickly once the immediate crisis passed and damage appeared limited. Market participants should monitor whether similar dynamics play out in the current situation. Bullish Scenario: If Bitcoin maintains support above $100,300 and geopolitical tensions ease, the cryptocurrency could resume its upward trajectory. Strong institutional adoption trends, potential regulatory clarity, and continued macroeconomic support could drive renewed buying interest. Bearish Scenario: A break below the June 5 swing low could trigger technical selling, potentially pushing Bitcoin toward the $93,548 yearly open. This scenario would likely coincide with broader risk asset weakness and could test the resolve of newer institutional investors. Sideways Consolidation: Bitcoin could trade in a range between $100,000-$108,000 while digesting recent gains and awaiting clearer directional catalysts. This outcome would represent a healthy pause in the broader uptrend. Several variables will likely determine Bitcoin's near-term direction: Geopolitical Developments: The evolution of Middle East tensions will significantly impact risk sentiment and Bitcoin's correlation with traditional markets. Institutional Flow: Large-scale buying or selling by institutional investors, particularly through Bitcoin ETFs, could provide directional momentum. Technical Levels: The $100,300 support level remains critical, while any move back above $108,000 could signal renewed strength. Market Liquidity: Improving liquidity conditions as institutional traders return could help stabilize price action and reduce volatility. For retail investors, this correction presents both risks and potential opportunities. Those with existing positions should consider their risk tolerance and investment timeline, particularly given Bitcoin's inherent volatility. New investors might view any further weakness as a potential entry point, though timing such moves remains challenging even for experienced traders. The current environment underscores the importance of proper position sizing and risk management when investing in cryptocurrencies. While Bitcoin's long-term trajectory remains compelling for many investors, short-term volatility can test even the most conviction-driven investment thesis. Bitcoin's retreat from its $112,000 peak reflects the complex interplay between geopolitical events, technical factors, and market structure. While the immediate catalyst appears geopolitical, the technical framework suggests this correction could have legs if key support levels fail to hold. Investors should prepare for continued volatility while monitoring the critical $100,300 level that could determine whether this represents a mere pause or a more significant shift in market dynamics. Read Next: A must-have for all crypto enthusiasts: . Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Image: Shutterstock This article Bitcoin's $112K Peak Under Pressure: Is the Bull Run Taking A Breather Or Hitting the Brakes? originally appeared on Sign in to access your portfolio
Yahoo
3 hours ago
- Yahoo
ATO warning for cryptocurrency investors as Bitcoin hits $164,000: ‘High alert'
Australian cryptocurrency investors are being warned to brace for increased scrutiny from the Australian Taxation Office (ATO) as Bitcoin surges in value. Bitcoin is inching towards its all-time high and it's all happening ahead of the financial year deadline. Bitcoin is currently hovering around $164,000, just short of its $175,258 all-time high. Koinly CEO Robin Singh told Yahoo Finance he expects it is likely it will break that record in the coming weeks and the ATO will be on 'high alert' to ensure investors are doing the right thing. 'Behind the Tax Office are real people, and unless they've been living under a rock, they're well aware that Bitcoin is booming. When Bitcoin rallies, so does ATO scrutiny,' he said. RELATED ATO superannuation warning as deadline for $30,000 deduction fast approaches $1,000 ATO school fees tax deduction that Aussies don't realise they can claim Centrelink age pension changes coming into effect from July 1 'We've seen this time and again, crypto is already a top priority for the ATO, and a rising market only sharpens their focus.' Historically, Bitcoin highs are often followed by profit-taking sell-offs and Singh said this was a 'pattern' the ATO knew well. 'That's why they'll be on high alert to ensure that Australian crypto investors are properly reporting capital gains. If you're sitting on realised profits and not declaring it, don't assume it'll go unnoticed,' he said. Bitcoin dipped around 3 per cent on Friday, but Singh noted it had rebounded faster than expected. 'Geopolitical tensions have historically led to higher volatility for Bitcoin. Because BTC didn't slide too far down this time, I'm even more confident in the overall market sentiment and its chances of reaching new highs before June 30,' he told Yahoo Finance. 'While most of the crypto market was anticipating new highs just days before the conflict broke out last week, I was genuinely gobsmacked that Bitcoin didn't fall further after the Israel-Iran tension started up again." Singh noted that spot Bitcoin ETFs recorded $1.37 billion USD in inflows last week alone — around $2.1 billion AUD — marking a straight week of uninterrupted inflows. Australian taxpayers are required to report all cryptocurrency-related capital gains, losses and income in their tax returns. Bitcoin is treated as a capital gains tax asset and when you sell it or exchange it for another currency, you trigger a capital gains event. That means you generate either a capital gain or loss. If you generate a capital gain, you need to pay tax on that. If you generate a capital loss, then you can carry that loss forward and offset it against capital gains in the future. Singh noted that the ATO received data from most major crypto exchanges, both domestic and international. 'If the ATO receives notification that a taxpayer has had crypto activity but nothing is reported — no gains, losses, or income — it raises a red flag,' he said. 'Worse still, if someone has had multiple years of crypto activity with zero reporting, the ATO is well within its rights to initiate a crypto audit. 'The biggest red flag isn't a bad trade, it's no trade being reported at all. If you've touched crypto and filed nothing, the ATO already knows, and they'll come knocking.' It comes after a Victorian judge ruled Bitcoin was another form of money, which means it could potentially be exempt from capital gains tax. This has led to claims that taxpayers who have paid capital gains tax on bitcoin transactions could be eligible for refunds, with the Australian Financial Review noting it would be collectively worth as much as $1 billion. But Singh said Bitcoin holders shouldn't be cheering just yet. 'The ATO has not updated its official position,' he warned. 'As it stands, Bitcoin and all crypto assets are still treated as property for capital gains tax purposes. And until the ATO explicitly says otherwise, relying on a single court decision to justify your tax position is very, very risky business.' Singh said taxpayers would still be on the hook to repay any unpaid tax. 'Until the ATO formally updates its guidance, plan your taxes as usual, because wishful thinking won't stand up in an audit,' he in retrieving data Sign in to access your portfolio Error in retrieving data
