J.P. Morgan Asset Management projected a 10% compound annual return for Bitcoin over 10 to 15 years in its 2027 Long-Term Capital Market Assumptions, its first long-term forecast for the asset. The projection exceeds its forecasts for U.S. large-cap stocks at 7.5% and gold at 5.5%, but the firm estimates Bitcoin’s annualized volatility at 55%.
The firm did not include Bitcoin in its main portfolio models, citing its volatility and unstable correlations. It also called the argument that currency debasement would drive a rush into crypto “wide of the mark.”
