JPMorgan says Bitcoin will beat stocks, bonds and gold

JP Morgan says Bitcoin will beat stocks, bonds, and gold over the next decade. This is CoinDesk Daily. Want trusted crypto research? Check out The Stack, Grayscale's blog. Visit grayscale.com slash the stack. Unlock deeper insight into digital asset vault risk. The new vault risk assessment from S&P Global Ratings helps bring institutional-grade transparency to on-chain investing. Visit spglobal.com slash ratings. JP Morgan expects Bitcoin to outperform U.S. stocks, bonds, and gold over the next 10 years. The bank's latest long-term forecast puts Bitcoin's base case at 10% annualized returns, ahead of its projections for equities, bonds and gold. It's the first time JP Morgan has put a range on Bitcoin in its research. That's a notable shift for a bank whose CEO Jamie Dimon once called Bitcoin a fraud. Microsoft, Alphabet and Goldman Sachs are objecting to having tokenized versions of their shares traded on OKX Ice. They joined seven new names on the latest list, including Qualcomm, Caterpillar and McDonald's. The pushback is a growing hurdle for the SEC's new framework for tokenized stock trading. Of the 62 companies originally on the roster, 15 have now said no. And French lawmakers narrowly approved a proposal to tax gains when investors swap crypto for stablecoins. The National Assembly passed it by a single vote, which brings crypto to stablecoin swaps a step closer to France's 31.4% capital gains tax. For now, those trades are generally tax-deferred. If it survives the rest of the budget process, investors could owe tax when moving into stablecoins starting in 2027, even without cashing out to a bank account. Get more updates on CoinDesk.com. Want trusted crypto research? Check out The Stack, Grayscale's blog. Visit grayscale.com slash the stack. Unlock deeper insight into digital asset vault risk. The new vault risk assessment from S&P Global Ratings helps bring institutional-grade transparency to on-chain investing. Visit spglobal.com slash ratings.