J.P. Morgan: Bitcoin May Outperform US Stocks and Gold

J.P. Morgan Asset Management published its 31st annual asset return forecast for a 10–15 year horizon. For the first time in the report's history, Bitcoin was included in the calculations, with its potential efficiency assessed.

Expected compound annualized returns

• Bitcoin — 10%
• US Real Estate Investment Trusts (REITs) — 8.2%
• Large-cap US stocks — 7.5%
• US Bonds — 5.6%
• Gold — 5.5%

Meanwhile, the projected annual volatility for BTC is 55%. For comparison, the figure for US stocks is 18%, and for gold, it is 17.2%.

The bank highlights Bitcoin's high volatility and the instability of correlations with other assets. The forecast does not constitute investment allocation advice.