Global First: Harris & Trotter completed the first-ever external audit of a fully BTC-denominated balance sheet, a milestone not just in insurance but across all industries.
Dukas Linden Public Relations
GlobeNewsWire
We’re proud to announce that BKR International member firm Harris & Trotter LLP, through its digital asset arm ht.digital, has completed the world’s first statutory audit of a fully Bitcoin-denominated life insurance company.
The client, Bermuda-based Meanwhile Insurance Bitcoin (Bermuda) Limited, is the first life insurer to operate entirely in Bitcoin—clients pay premiums and receive benefits exclusively in BTC, with no reliance on fiat currencies. On June 5, 2025, Meanwhile released its audited 2024 financial statements, marking a historic milestone not only in crypto and insurance, but in financial reporting globally.
The audit, conducted in line with Bermuda’s Insurance Act and reviewed by a qualified actuary from WTW, confirms that Meanwhile ended 2024 with:
- 220.4 BTC in total assets
- 25.29 BTC in net income (a 300% increase year-on-year)
- All financials fully denominated and audited in Bitcoin
This is the first time in history that a company has released externally audited financials entirely in BTC—a breakthrough in the integration of digital assets into regulated financial services.
“This is groundbreaking, revolutionary work,” said a spokesperson from Harris & Trotter. “It sets a new global precedent for how regulated companies can operate, report, and scale within the digital asset economy. We’re proud to be at the forefront of that transformation.”
Unlike other corporate BTC holders, Meanwhile is a regulated insurer prohibited from selling Bitcoin holdings except to meet long-term policyholder claims—often decades in the future. This makes its position in Bitcoin fundamentally more stable and aligned with long-term value creation.
CEO Zac Townsend commented:
“This [audit] is a foundational step in reimagining the financial system around a single, decentralized global standard. Harris & Trotter’s work shows that Bitcoin-native businesses can meet the same professional and regulatory standards as any traditional institution.”
This achievement by Harris & Trotter and ht.digital not only affirms the quality and innovation within our BKR membership but also signals a new chapter in how professional firms can lead in emerging financial sectors.