JPMorgan Projects Bitcoin to Outperform US Stocks and Gold Over Next Decade

The weight of this lies less in the projection than in the venue: Bitcoin entering a major bank's long-term capital market assumptions signals a shift in how institutional research treats the asset, not just how traders price it. The caveat matters as much as the forecast — volatility and unstable correlations are precisely the traits portfolio construction frameworks are built to penalize, so the bullish call and the caution sit in tension. Whether other major banks follow with their own long-horizon assumptions is the open question.