JPMorgan Asset Management Sets a 10% Base Case for Bitcoin, Still Sees No Clear Portfolio Role

The firm’s 2027 long-term return outlook gives bitcoin a range of outcomes for the first time, while its authors call BTC a speculative asset that does not yet work as a diversifier. JPMorgan Asset Management has attached a return range to bitcoin for the first time, projecting a base case of 10% a year for BTC over the next decade while concluding that the asset still has no settled place in a balanced portfolio.