JPMorgan projects Bitcoin to outperform US stocks and gold over next decade
Summary
JPMorgan Asset Management’s 2027 long-term outlook projects Bitcoin will return an annualized 10% over the next decade, ahead of large-cap US stocks at 7.5% and gold at 5.5%. Its bull case is 16.6% annualized, while its bear case is an 11.2% annualized loss. The projections factor in Bitcoin supply relative to money supply, its potential role alongside gold and network adoption. Despite the higher expected return, JPMorgan says unstable correlations mean Bitcoin is not currently a portfolio diversifier, describing it as speculative and a hedge against monetary easing. Bitwise has issued a more optimistic forecast, projecting a 28.3% annualized base-case return through 2035.
