JPMorgan's asset management department stated that although the volatility of Bitcoin is still too high to be recommended for inclusion in the portfolios of strategic investors, this cryptocurrency may outperform most asset classes over the next 10 years.
In its 2027 "Long-Term Capital Market Assumptions" report, it stated that although the price volatility of this largest cryptocurrency has eased, "it is still too early to consider BTC as a diversification tool in a balanced investment portfolio."
JPMorgan Chase is one of the largest banks in the world and has launched its own products using blockchain, the underlying technology of Bitcoin. However, Jamie Dimon, the CEO of this multinational bank, has long been a skeptic of Bitcoin.
The report states: "Due to its unstable correlation with other asset classes, BTC currently lacks a clear diversification role in balanced investment portfolios."
The report also added: "We regard Bitcoin as a speculative asset and a tool to hedge against monetary easing."
A chart presented later in the report shows that, under a baseline scenario, Bitcoin returns would exceed those of stocks, bonds, and gold. However, the report also notes that the volatility of this token could undermine its role in a portfolio.
The report states: "However, if volatility continues to decline and its correlation with other assets becomes more stable, this situation may change in the future, especially as regulation becomes clearer and liquidity and price discovery continue to improve."
The report adds that currently, Bitcoin is "mainly traded as a high-beta risk asset, and its trend follows the growth of the global money supply."
Bitcoin has become increasingly popular on Wall Street, especially after the U.S. Securities and Exchange Commission approved the trading of exchange-traded funds in 2024.
US President Donald Trump's pro-crypto stance has also been helpful: since 2025, the regulatory agencies under this American leader have adopted a more open attitude in regulating this field.
JPMorgan Chase CEO Jamie Dimon has repeatedly harshly criticized Bitcoin, calling it "an overhyped fraud" and a "pet rock," and added that its only value lies in its use by criminals.
However, he has also praised the underlying technology of Bitcoin and expressed his recognition of encrypted products such as stablecoins.












