J.P. Morgan Asset Management’s 2027 long-term outlook, released Oct. 19, projects a 10% compound annual return for bitcoin over a 10-to-15-year horizon. The release year is not specified in the excerpt. Bitcoin is not included in the firm’s model portfolio allocations or its main correlation data, so the outlook does not establish how it would fit alongside other assets in a portfolio.
The bank estimates bitcoin’s annualized volatility at 55%, compared with 17.2% for gold, which it projects to return 5.5% a year. Bitwise investment chief Matt Hougan says the bank’s forecast likely overstates bitcoin’s volatility and understates its returns.
