Jamie Dimon Hated Bitcoin: JPMorgan Now Expects BTC to Beat Stocks and Gold

JPMorgan predicted last week that bitcoin could outperform large-cap stocks, REITs and gold over the next 10-15 years, with a 10% annual compounded return, while noting it could remain highly volatile. The bank is led by longtime CEO Jamie Dimon, who previously called bitcoin a fraud, worthless and a decentralized Ponzi scheme, and said he would shut it down if running the U.S. government. Despite that criticism, JPMorgan recently allowed institutional clients to use bitcoin and ether as loan collateral, made JPM Coin available on Ethereum and Base, and worked with Coinbase to ease crypto purchases for Chase customers.