Sam Altman-Affiliated Meanwhile Group Introduces Bitcoin Private Credit Fund – Institutional Investment Rising?

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By BitcoinWiki News

Key Takeaways:

– Meanwhile Group has launched a new private credit fund denominated in Bitcoin
– The fund aims to provide a “conservative” yield in Bitcoin while lending funds in BTC to institutional counterparties
– Meanwhile Advisors targets a 5% yield for the Meanwhile BTC Private Credit Fund term
– Investors will contribute U.S. dollars, which will be converted into BTC at the fund’s closure
– Loans will be originated in BTC, and fees will also be charged in the cryptocurrency
– Meanwhile Group also launched Meanwhile Insurance, a company that accepts premiums and pays benefits exclusively in Bitcoin
– Bitcoin has displayed resilience by surging to a more than 19-month high, even as global markets experienced a downturn
– The cryptocurrency climbed 5.8% to reach $42,000 on Monday
– Bitcoin has shown a low correlation with other traditional macro assets
– The anticipation of the United States approving its first spot Bitcoin exchange-traded funds is one of the key drivers behind the gains
– The correlation coefficient between Bitcoin and global shares index has declined from 0.60 to 0.18 since the start of the year
– A similar analysis of the token and spot gold reveals that the correlation figure has dropped close to zero from 0.36


Section 1: Meanwhile Group unveils private credit fund denominated in Bitcoin
– Meanwhile Group, backed by notable figures like Sam Altman and Gradient Ventures, has launched a new private credit fund denominated in Bitcoin.
– The fund aims to provide investors with a conservative yield in Bitcoin while lending funds in BTC to institutional counterparties at the discretion of the fund managers.
– Meanwhile Advisors, the group’s subsidiary, targets a 5% yield for the Meanwhile BTC Private Credit Fund term.
– Investors will contribute U.S. dollars, which will be converted into BTC at the fund’s closure, and loans will be originated in BTC with fees charged in the cryptocurrency.

Section 2: Meanwhile Group’s expansion into Bitcoin
– Meanwhile Group made headlines earlier this year with the launch of Meanwhile Insurance, a company that accepts premiums and pays benefits exclusively in Bitcoin.
– The service is currently limited to the United States but is in the process of expanding to other countries.
– Meanwhile Insurance offers whole life insurance policies that provide a cash value in BTC in addition to a death benefit.

Section 3: Growing institutional interest in Bitcoin
– New York Digital Investment Group secured $100 million in funding from major insurance providers with the aim of launching “Bitcoin-powered solutions for U.S.-based life insurance and annuity providers.”
– This reflects the increasing acceptance and recognition of cryptocurrencies as viable investment assets.

Section 4: Bitcoin’s resilience despite financial market downturn
– Bitcoin surged to a more than 19-month high, reaching $42,000 and maintaining its position even as global markets experienced a downturn.
– The current low correlation between cryptocurrencies and other traditional macro assets is highlighted, with Bitcoin’s correlations with stocks and gold diminishing throughout the year.

Section 5: Anticipation for the approval of Bitcoin ETFs
– One of the key drivers behind Bitcoin’s gains is the anticipation that the United States will approve its first spot Bitcoin exchange-traded funds (ETFs), potentially expanding the demand for the token.
– The 90-day correlation coefficient between Bitcoin and global shares as well as spot gold has declined, indicating a decrease in correlation between these assets and Bitcoin.

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