In September 2017, JPMorgan CEO Jamie Dimon said: “Bitcoin is a fraud. If I catch any trader touching it, I’ll fire them immediately.”
That day, $BTC $4,100.
Nine years later, it was the same JPMorgan that, in a 31-year long-term outlook report, forecast returns for Bitcoin for the first time.
Among 60 asset classes over the next decade, Bitcoin ranked first, with an annualized return of 10%, outperforming U.S. stocks, bonds, and gold.
But Bitcoin generates no profits and pays no interest, so how do you calculate its value? JPMorgan used three different yardsticks, and one of them produced a negative number.
More interestingly, Bitcoin topped the returns ranking for the first time, yet still hasn’t made it into mainstream institutional portfolios.
So what’s holding it back?
#AiCoin #BTC #Cryptocurrency
That day, $BTC $4,100.
Nine years later, it was the same JPMorgan that, in a 31-year long-term outlook report, forecast returns for Bitcoin for the first time.
Among 60 asset classes over the next decade, Bitcoin ranked first, with an annualized return of 10%, outperforming U.S. stocks, bonds, and gold.
But Bitcoin generates no profits and pays no interest, so how do you calculate its value? JPMorgan used three different yardsticks, and one of them produced a negative number.
More interestingly, Bitcoin topped the returns ranking for the first time, yet still hasn’t made it into mainstream institutional portfolios.
So what’s holding it back?
#AiCoin #BTC #Cryptocurrency