JPMorgan projects Bitcoin at 10% annual returns, above stocks and gold

Bitcoin now has a formal long-term return estimate in JPMorgan Asset Management’s capital-market assumptions: roughly 10% a year over 10-15 years. That puts it above the firm’s forecasts for U.S. large-cap stocks at 7.5%, gold at 5.5%, bonds at 5.6%, and REITs at 8.2%.

The caveat is that JPMorgan still treats Bitcoin as speculative rather than a standard portfolio building block. It has not included Bitcoin in its main covariance matrices, even with the new 10% projection.