Meanwhile, Sam Altman and VanEck jump into Bitcoin

Meanwhile, Group, backed by some big names like Sam Altman and the folks at Gradient Ventures, just launched a new bitcoin private credit fund. It is about providing investors with a consistent return on bitcoin and lending to large institutional players. The team running the program is targeting a good 5% return for this Meanwhile btc Private Credit Fund.

This new fund is quite smart: it tries to avoid the risks normally seen on platforms that provide loans to individuals. They are being very careful who they lend money to. Investors will put their money in US dollars, but will convert it to bitcoin when the fund ends. And here's the kicker: all loans and fees are also in bitcoin.

Zac Townsend, co-founder and CEO of Meanwhile Group, is very excited about this. He says it's a fantastic opportunity for big investors to get the most out of their bitcoin without giving up ownership; Sounds like a win-win situation, right?

Great interview with @dbaer7, @whilelifeThe director of wealth and asset management of the private credit fund we announced yesterday:

“We think of our fund as an active allocation to btc rather than a passive ETF allocation.”https://t.co/0mkiPzolmi

—Zac Townsend (@ztownsend) December 8, 2023

The Meanwhile Group is not new to shaking things up in the bitcoin space. Earlier this year, they founded Bermuda-based Meanwhile Insurance. They deal in life insurance policies where everything from premiums to benefits is done in bitcoin. Right now, it's only for American customers, but they are planning to go global.

This private credit fund offers unparalleled potential for institutional investors to unlock the full value of their btc holdings without compromising their ownership, taking advantage of a unique opportunity to earn optimized returns. -Zac Townsend

His latest venture is part of a broader trend in which more and more big players are getting into bitcoin and other cryptocurrencies. Remember in 2021, when New York Digital Investment Group received a whopping $100 million from major insurance providers? Their goal is to bring bitcoin solutions to life insurance and annuity providers in the US.

VanEck goes HODL

And hey, there's more! VanEck, a big name in mutual and exchange-traded funds, is fully embracing the bitcoin environment. They're trying to launch their own bitcoin ETF and have even chosen “HODL” as their symbol – talk about staying true to bitcoin culture! Despite some setbacks in the past, they are not giving up. And it looks like they'll get the green light soon, which could mean a lot of cash flowing into bitcoin and other digital currencies.

Large financial firms, including BlackRock, are also trying to jump on the bitcoin ETF bandwagon in the US, where it is still a no-go zone for such products. But the tide is turning and there is a lot of optimism that things are about to change. Stay tuned, because it looks like the world of cryptocurrencies is about to get even more interesting!

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