JPMorgan Says Bitcoin Will Beat Stocks, Bonds and Gold | CoinDesk Daily
CoinDesk Podcast Network
October 20, 2026
JPMorgan expects BTC to outperform U.S. stocks, bonds and gold in the next decade. JPMorgan now expects bitcoin to outperform U.S. stocks, bonds and gold over the next 10 years, forecasting a 10% annualized base case.
Speakers Jennifer Sanasie
TopicsBusiness NewsNewsDaily News
Jennifer Sanasie (0:00)
JPMorgan says Bitcoin will beat stocks, bonds and gold over the next decade. This is CoinDesk Daily.
Want trusted crypto research? Check out The Stack, Grayscale's blog. Visit grayscale.com/thestack.
Unlock deeper insight into digital asset vault risk. The new vault risk assessment from S&P Global Ratings helps bring institutional grade transparency to on-chain investing. Visit spglobal.com/ratings.
JPMorgan expects Bitcoin to outperform US stocks, bonds and gold over the next 10 years. The bank's latest long-term forecast puts Bitcoin's base case at 10% annualized returns ahead of its projections for equities, bonds and gold. It's the first time JPMorgan has put a range on Bitcoin in its research. That's a notable shift for a bank whose CEO Jamie Dimon once called Bitcoin a fraud. Microsoft, Alphabet and Goldman Sachs are objecting to having tokenized versions of their shares traded on OKX ICE. They joined seven new names on the latest list including Qualcomm, Caterpillar and McDonald's. The pushback is a growing hurdle for the SEC's new framework for tokenized stock trading. Of the 62 companies originally on the roster, 15 have now said no. And French lawmakers nearly approved a proposal to tax gains when investors swap crypto for stablecoins. The National Assembly passed it by a single vote which brings crypto to stablecoin swaps a step closer to France's 31.4% capital gains tax. For now, those trades are generally tax-deferred. If it survives the rest of the budget process, investors could owe tax when moving into stablecoins starting in 2027 even without cashing out to a bank account. Get more updates on coindesk.com. Want trusted crypto research? Check out The Stack, Grayscale's blog. Visit grayscale.com/thestack.
Unlock deeper insight into digital asset vault risk. The new vault risk assessment from S&P Global Ratings helps bring institutional-grade transparency to on-chain investing. Visit S&P global.com/ratings.
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