JPMorgan Says Bitcoin Will Beat Stocks, Bonds and Gold | CoinDesk Daily

JPMorgan’s long-term base case projects Bitcoin will return 10% annualized over the next 10 years, outperforming the bank’s forecasts for U.S. stocks, bonds and gold. The projection is a forecast, not a guarantee, and the synopsis does not give comparable return estimates for the other assets.

The estimate marks the first time JPMorgan has put a range on Bitcoin and a shift for a firm associated with CEO Jamie Dimon, who previously called Bitcoin a fraud. The new outlook indicates the bank is now assigning Bitcoin a place in its long-term return projections, while its forecast alone does not establish that the firm has changed its broader position.

Microsoft, Alphabet and Goldman Sachs have objected to tokenized versions of their shares being traded on OKX ICE. Fifteen of the 62 companies originally included on the tokenized-stock roster have said no, showing that support for trading company-share tokens is not universal among the firms whose shares are represented.

France’s National Assembly narrowly approved a proposal, by one vote, to tax crypto-to-stablecoin swaps at the country’s 31.4% capital gains rate. Such trades are generally tax-deferred for now; if the proposal survives the remaining budget process, the tax could take effect in 2027 and apply even when investors do not convert proceeds to bank-held cash.