JP Morgan Asset Management included bitcoin in its 2027 Long-Term Capital Market Assumptions, according to a report highlighted by Grayscale on Nov. 4, 2026. Its base case projects 10% compound annual growth over the next 10 years, with estimated annual volatility of 55%.
JPMorgan estimates bitcoin’s correlation with U.S. large-cap stocks at 33%, suggesting possible diversification benefits. But it says bitcoin’s correlations are unstable and would not include it in the core matrices it uses to model relationships among assets. Any diversification benefit would depend on how bitcoin’s returns and relationships with other markets develop.
