JPMorgan Puts a Number on Bitcoin for the First Time: 10% a Year, With a Big Caveat
Summary
J.P. Morgan Asset Management’s 2027 long-term forecast, its first to include Bitcoin, projects a 10% annualized compound return over 10–15 years, above its forecasts for U.S. large-cap stocks, gold and a 60/40 portfolio. It also estimates Bitcoin volatility at 55%, citing unstable correlations as reasons not to include it in its main portfolio models. The firm rejects currency debasement as a strong driver of crypto demand. The forecast comes as JPMorgan pursues blockchain and tokenization projects; U.S. spot Bitcoin ETFs saw $526.7 million in net inflows on Monday, while Bitcoin traded near $82,000.
