JPMorgan projects Bitcoin to outperform US stocks and gold over next decade

JPMorgan Projects 10% Annualized Bitcoin Returns Over Next Decade

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JPMorgan Asset Management projects Bitcoin (BTC) will outperform stocks and gold over the next decade, but cautions that its volatility makes it unsuitable for diversifying portfolios at present.

Markets

Published: Oct 20, 2026

JPMorgan included Bitcoin in its 2027 Long-Term Capital Market Assumptions report for the first time, projecting a 10% annualized return for Bitcoin, surpassing both large-cap US stocks (7.5%) and gold (5.5%).

JPMorgan’s projections:

  • Bull Case: 16.6% annualized return
  • Bear Case: 11.2% annualized loss

Bitwise CIO Matt Hougan welcomed Bitcoin’s inclusion, humorously noting the stages of acceptance: "First they ignore you, then they laugh at you, then they fight at you, then they add you to their Long-Term Capital Markets Assumptions paper and predict you’ll be the best-performing asset of the next decade."

Related:

  • JPMorgan takes JPM Coin to Ethereum for institutional clients
  • [Bitwise forecast](link to original source) projecting $1.3 million Bitcoin by 2035

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