JPMorgan Adds Bitcoin to 2027 Long-Term Capital Market Assumptions, Forecasts 10% Annual Return

The signal here is less the return figure than the institutional framing: bitcoin entering a major bank's long-horizon assumptions, with a correlation estimate below international equities, corporate bonds and hedge funds, puts it in the same conversation as conventional portfolio inputs. The caution is equally telling — an unstable correlation and exclusion from the main covariance matrix mean the asset is acknowledged but not yet fully trusted in the modeling. Whether that correlation holds steady enough to justify fuller integration is the open question.