摩根大通：比特币十年或跑赢多数资产但暂不推荐
Bitcoin Could Outperform Most Assets, JPMorgan Says — But the Bank Still Won’t Recommend It
Bitcoin Magazine
比特币杂志
Bitcoin Could Outperform Most Assets, JPMorgan Says — But the Bank Still Won’t Recommend It
摩根大通称比特币可能跑赢大多数资产——但该银行仍不会推荐它
JPMorganChase’s asset management division has said that while bitcoin is still too volatile to be recommended for strategic investors’ portfolios, the cryptocurrency could outperform most asset classes over the next 10 years.
摩根大通资产管理部门表示，虽然比特币仍然过于波动，不适合推荐给战略投资者的投资组合，但加密货币在未来十年内可能跑赢大多数资产类别。
In its 2027 “Long-Term Capital Market Assumptions” report, the bank said that while volatility in the biggest cryptocurrency’s price has dampened, it is “premature to consider BTC as a diversifier in a balanced portfolio.”
该银行在2027年《长期资本市场假设》报告中表示，尽管最大加密货币的价格波动有所缓和，但“现在考虑将BTC作为平衡投资组合中的分散化工具还为时过早”。
JPMorgan, one of the world’s biggest banks, has utilized Bitcoin’s underlying tech — the blockchain — to debut its own products. But the multinational’s CEO, Jamie Dimon, has long been a Bitcoin skeptic.
摩根大通是全球最大的银行之一，已利用比特币的底层技术——区块链——推出了自己的产品。但该跨国公司的首席执行官杰米·戴蒙长期以来一直对比特币持怀疑态度。
JUST IN: The largest bank in the U.S. JPMorgan is forecasting Bitcoin to outperform every major asset over the next decade.
突发消息：美国最大银行摩根大通预测，比特币将在未来十年跑赢所有主要资产。
You are not bullish enough pic.twitter.com/m2dEiP47Vo
你的看涨情绪还不够。pic.twitter.com/m2dEiP47Vo
— Bitcoin Magazine (@BitcoinMagazine) October 20, 2026
—— 比特币杂志 (@BitcoinMagazine) 2026年10月20日
“BTC currently lacks a clear role as a diversifier in balanced portfolios due to unstable correlations to other asset classes,” the report read.
报告称：“由于与其他资产类别的相关性不稳定，BTC目前缺乏作为平衡投资组合中分散化工具的明确角色。”
It added: “We see bitcoin as a speculative asset and a hedge against monetary easing.”
报告补充道：“我们将比特币视为一种投机性资产和对冲货币宽松的工具。”
The report went on to show a graph with a base case for bitcoin returns beating stocks, bonds and gold. But it did add that the coin’s volatility could harm its role in portfolios.
报告随后展示了一张图表，其中比特币回报的基础情景优于股票、债券和黄金。但它也补充说，该代币的波动性可能会损害其在投资组合中的作用。
“But should volatility continue to decline and correlations to other asset stabilize, this may evolve in the future, particularly as regulation becomes clearer and liquidity and price discovery continue to improve,” it noted.
报告指出：“但如果波动性继续下降，且与其他资产的相关性趋于稳定，这种情况未来可能会演变，尤其是随着监管变得更加清晰，流动性和价格发现持续改善。”
For now, the report added, bitcoin “mostly trades like a high beta risk asset that tracks global money supply growth.”
报告补充说，就目前而言，比特币“主要像一种高贝塔风险资产一样交易，追踪全球货币供应量的增长”。
Bitcoin has become more popular on Wall Street, especially since the Securities and Exchange Commission green lighted exchange-traded funds to trade in 2024.
比特币在华尔街越来越受欢迎，尤其是在证券交易委员会2024年批准交易所交易基金进行交易之后。
President Donald Trump’s pro-crypto stance has also helped: regulators under the U.S. leader have taken a far more open approach to watchdogging the space since 2025.
唐纳德·特朗普总统的亲加密立场也起到了帮助作用：自2025年以来，在美国领导人下的监管机构对该领域的监管采取了更加开放的态度。
JPMorganChase boss Jamie Dimon has famously blasted Bitcoin, calling it a “hyper up fraud” and “pet rock” — adding that its only value is to criminals.
摩根大通首席执行官杰米·戴蒙曾猛烈抨击比特币，称其为“超级庞氏骗局”和“宠物石”，并补充说它的唯一价值在于犯罪分子。
Still, he has praised the coin’s underlying technology, and lauded crypto products like stablecoins.
尽管如此，他赞扬了该代币的底层技术，并称赞了稳定币等加密产品。
This post Bitcoin Could Outperform Most Assets, JPMorgan Says — But the Bank Still Won’t Recommend It first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.
本文《摩根大通称比特币可能跑赢大多数资产——但该银行仍不会推荐它》首发于比特币杂志，由Mathew Di Salvo撰写。
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