JPMorgan Projects Bitcoin to Outperform US Stocks and Gold Over Next Decade

J.P. Morgan Asset Management has added Bitcoin to its Long-Term Capital Market Assumptions report for the first time, projecting the cryptocurrency will outperform major traditional assets. The bank forecasts a 10% compound annual return for Bitcoin over a 10-to-15-year horizon, compared to 7.5% for U.S. large-cap equities, 8.2% for U.S. REITs, and 5.5% for gold. However, citing an estimated 55% annualized volatility and unstable asset correlations, JPMorgan excluded Bitcoin from its primary portfolio allocation models and sample portfolios, evaluating the digital asset in a separate covariance matrix.