J.P. Morgan Projects Bitcoin to Lead Returns Over Next Decade

J.P. Morgan projects Bitcoin (BTC) to lead asset returns over the next decade, with expected volatility substantially higher than gold's.

The firm projects Bitcoin volatility of 55%, compared with 17.2% for gold. Volatility measures the size of expected price swings; those figures imply much wider potential swings for Bitcoin than for gold.

The forecast appears in J.P. Morgan's Long-Term Capital Markets Assumptions.

Bitwise Chief Investment Officer Matt Hougan challenged the assumptions. He described Bitcoin as still maturing and argued that the firm's volatility estimate is too high while its return estimate is too low.

The projections are intended for long-term planning. They do not describe returns already earned or set a near-term price target.