Morning Minute: Bitcoin Tops JPMorgan’s Ten-Year Forecast for All Assets
Summary
JPMorgan Asset Management’s 2027 long-term capital-market assumptions reportedly include Bitcoin for the first time, forecasting a 10% annual compound return over 10–15 years—the highest among 13 asset classes. The report also estimates 55% annualized volatility and a 20.9% arithmetic return, highlighting substantial volatility drag. REITs are forecast at 8.2%, U.S. large-cap stocks at 7.5%, and gold at 5.5%. The piece argues that Bitcoin’s inclusion gives institutional investors a benchmark for portfolio modeling, while noting JPMorgan rejected the debasement argument as a strong case for Bitcoin.
