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JPMorgan Asset Management says Bitcoin could return 10% a year over next decade

The asset manager's first long-term Bitcoin forecasts put base-case annual returns at 10%, above its projections for US stocks, bonds and gold, though it still calls the asset speculative.

InvestIn.News NewsDesk · 1 min read
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Picture from CoinDesk for: JPMorgan Asset Management says Bitcoin could return 10% a year over next decade
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Original reporting: Jamie Crawley, CoinDesk

Key points

  • Base case of 10% annualised returns, with a bear case of -9.7% a year and a bull case of 17%
  • Forecasts of 7.5% for US large caps, 5.6%-6.6% for US bonds and 5.5% for gold over the same period
  • Portfolio manager Dr Sheena Shah and digital asset strategy head Dennis Cristallo say Bitcoin lacks a strategic role in portfolios

JPMorgan Asset Management says Bitcoin could return 10% a year over the next decade in its base case, according to its 2027 Long-Term Capital Market Assumptions report published on 20 Oct. That projection would beat the bank's own forecasts for US stocks, bonds and gold.

The base case sits between a bear case of a 9.7% annual loss and a bull case of 17% a year, the first time JPMorgan has published a range for Bitcoin returns. By comparison, it projects 7.5% for US large-cap equities, 7.7% for small caps, 5.6%-6.6% for US bonds and 5.5% for gold.

The bank remains wary of the asset. It describes Bitcoin as speculative, saying its volatility and unstable correlations with other assets remain an obstacle to widespread inclusion in portfolios.

JPMorgan's relationship with crypto has been complicated by CEO Jamie Dimon's past criticism, including calling Bitcoin a fraud in 2017.

Read the full story on CoinDesk

Live updates on NewsFeeds:MacroBitcoinDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)

How this was produced: an AI model wrote this summary of CoinDesk’s report, which we credit and link above. Read our Editorial and AI policy. Spotted a mistake? See Corrections.

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