JPMorgan sees 10% annual bitcoin returns as Fidelity flags preferred-stock demand
- —JPMorgan forecasts 10% annualized BTC returns over 10 years, beating the S&P 500 and roughly double gold
- —The bank excludes bitcoin from its model portfolio due to insufficient data
- —Preferred stock yielding 8–15% funded purchases of about 136,000 BTC
- —That equals over 0.5% of max supply and about 15% of first-year spot ETF buying
Why it matters: Institutional bitcoin demand is broadening through debt instruments, but the structure only works if BTC appreciates faster than dividend costs.
Source: TokenPost
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