JPMorgan Asset Management excluded Bitcoin from the 2027 Long-Term Capital Market Assumptions report's main portfolio covariance matrices and sample allocations due to its volatility and unstable correlations with traditional assets

From the articleJPMorgan sees 10% annual bitcoin returns, topping stocks, bonds and gold over next decadeAlso in JPMorgan Sees Bitcoin Outperforming U.S. Stocks, Gold In Next Decade, JPMorgan Bitcoin Forecast Gives BTC an Edge Over US Stocks, JPMorgan Projects 10% Annualized Bitcoin Returns Over Next Decade, J.P. Morgan projects Bitcoin to outperform US stocks and gold over the next decade