JPMorgan Asset Management has included Bitcoin in its long-term return forecasts for the first time, projecting a 10% compound annual return for Bitcoin over the next 10-15 years. This is higher than US large-cap stocks (7.5%), gold (5.5%), and US REITs (8.2%). Its 2027 Long-Term Capital Market Assumptions also estimate Bitcoin's arithmetic annual return at 20.9% with an annualized volatility of 55%. Bitwise CIO Matt Hougan stated that these figures make Bitcoin the highest-returning asset for the next decade.