JPMorgan Asset Management projects that bitcoin could outperform stocks, gold, and real estate over the next decade or longer, according to a Coinbase Predict roundup shared on Oct. 20. The eight-item financial news summary also covered a Swiss bitcoin fund approval, corporate earnings, and artificial intelligence developments.
JPMorgan Bitcoin Return Forecast
JPMorgan Asset Management's long-term capital market assumptions, released Oct. 19, project a 10% compound annual return for bitcoin over 10 to 15 years. That compares with assumed returns of 7.5% for U.S. large-cap stocks, 5.5% for gold, and 8.2% for U.S. real estate investment trusts. The analysis introduces a bitcoin return range for the first time but does not include bitcoin as an allocation, according to the firm's press release.
The report also projects a 7% annual return for a portfolio comprising 60% stocks and 40% bonds.
Swiss Bitcoin Fund Targets November Trading
On Oct. 20, the Swiss Financial Market Supervisory Authority (FINMA) approved the country's first exchange-traded retail fund investing directly in bitcoin. The approval includes an exemption from ordinary diversification requirements, permitting concentrated cryptocurrency exposure. BIT Asset Management identifies the product as its Bitcoin Fund ETF, ticker BBIT, with trading expected in November on the SIX Swiss Exchange.
The fund is designed to hold bitcoin on behalf of shareholders, while direct bitcoin ownership involves holding the digital asset with access controlled through cryptographic keys. Supervised institutions must address the fund's operational and custody risks.
Saylor Sees Bitcoin Returning to Six Figures
The roundup also highlighted Strategy Inc. (Nasdaq: MSTR) co-founder and Executive Chairman Michael Saylor's outlook for bitcoin above $100,000. In an Oct. 13 Bloomberg Television interview, Saylor put the market bottom just under $60,000 and called the current stage "the beginning of a bull market." He projects annual growth of 20% to 30% for the next 20 years.
During an interview on Charles Schwab Network's Market Overtime, which premiered Oct. 19, Saylor said bitcoin was "definitely moving back into the six figures at this point." He also discussed Strategy's plans for daily dividends on its STRC preferred stock, its tokenization plans, and his opposition to the CLARITY Act.
Corporate Revenue and AI Developments
Beyond cryptocurrency, Coinbase Predict cited SpaceX's $14.58 billion in third-quarter revenue, exceeding analyst expectations, and Anthropic's $16.3 billion in first-half revenue. The Anthropic figure came from a draft prospectus viewed by The Wall Street Journal.
Turning to chatbot adoption, the account put Grok Bot's daily active users at 450,000, up 200% since September.
OpenAI confirmed its acquisition of Orchestra Bio on Oct. 20. Orchestra Bio develops software that helps scientists and AI agents coordinate drug programs. Its team and technology will join Rosalind, OpenAI's suite of AI models and tools for life sciences research.
U.S. Commodity Futures Trading Commission (CFTC) Chairman Michael S. Selig addressed advanced AI's market implications. Discussing the CFTC's super intelligence forum, Selig stated: "Super intelligence is poised to transform our financial markets," using a term for AI that would exceed human capabilities across a broad range of intellectual tasks. The inaugural forum is scheduled for Oct. 28.
