- JPMorgan Asset Management projects a 10% annualized base-case bitcoin return over the next 10 years in its 2027 Long-Term Capital Market Assumptions report.
- The bear case is -9.7% annually and the bull case is 17%, the first bitcoin range the asset manager has published.
- The base case compares with projected 5.6% to 6.6% growth for U.S. bonds, 7.5% and 7.7% for U.S. large and small-cap equities, and 5.5% for gold.
- JPMorgan Asset Management keeps a cautious stance, citing volatility and unstable correlations as obstacles to widespread portfolio inclusion.
Quotes
“speculative asset and a hedge against monetary easing”
“It lacks a strategic role in portfolios other than as a bet on fiat currency expansion or future asset trading on blockchains”