Jpmorgan Sees Bitcoin Outpacing Stocks and Gold Long Term

WHO:

99Bitcoins - Michael Saylor characterized the projection as Wall Street “doing the math.”

Bloomberg Markets - JPMorgan Asset Management added Bitcoin to its long-term capital market assumptions for the first time.

Cointelegraph - JPMorgan included Bitcoin in its long-term capital market outlook for the first time.

WHAT:

99Bitcoins - J.P. Morgan Asset Management projected a 10% annual return for Bitcoin over the next decade.

99Bitcoins - The bank’s 2027 Long-Term Capital Market Assumptions was the 31-year-old report’s first edition to assign a numerical Bitcoin return projection.

99Bitcoins - The article’s headline says the bank’s “bear case” points to Bitcoin at $25,000.

Bloomberg Markets - JPMorgan Asset Management forecasts that Bitcoin could deliver returns exceeding those of stocks, bonds, and gold.

Cointelegraph - JPMorgan projects Bitcoin to outperform US stocks and gold over the next decade.

Bloomberg Markets - The projection marks a milestone in Bitcoin’s acceptance on Wall Street.

Cointelegraph - JPMorgan cautioned that Bitcoin’s volatility and unstable correlations limit its role in investment portfolios.

WHEN:

99Bitcoins - The 2027 Long-Term Capital Market Assumptions were published on Monday, October 19.

WHY:

Cointelegraph - JPMorgan’s warning about volatility and unstable correlations indicates factors limiting Bitcoin’s usefulness in investment portfolios.

HOW:

Bloomberg Markets - JPMorgan Asset Management presented its Bitcoin forecast as part of its long-term capital market assumptions.

Cointelegraph - JPMorgan incorporated Bitcoin into its long-term capital market outlook.

(UPDATED October 21, 2026 12:01 UTC)

J.P. Morgan Asset Management projected annual returns of 10% for Bitcoin over the next decade, while the report’s “bear case” points to a price of $25,000. The 2027 Long-Term Capital Market Assumptions marked the first time in the report’s 31-year history that it assigned Bitcoin a numerical return projection. Michael Saylor called the forecast Wall Street “doing the math.”

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(UPDATED October 21, 2026 00:40 UTC)

JPMorgan Asset Management has included Bitcoin in its long-term capital market outlook for the first time, projecting it could outperform stocks, bonds, and gold. The move marks a milestone for Bitcoin’s acceptance on Wall Street. JPMorgan cautioned that Bitcoin’s volatility and unstable correlations could limit its usefulness in investment portfolios.