Jamie Dimon Once Called Bitcoin a 'Fraud'—Now JP Morgan Projects 10% Annualized Returns

Benzinga reported that JPMorgan is projecting 10% annualized returns, marking a notable contrast with past criticism of Bitcoin by Jamie Dimon, the bank’s longtime chief executive. The report’s headline links the projection to Dimon’s earlier description of Bitcoin as a “fraud.”

Bitcoin is the largest and most widely recognized cryptocurrency, operating on a decentralized blockchain network rather than through a central bank. Its price and investment outlook have long been subjects of debate among banks, asset managers, regulators and technology advocates.

JPMorgan is one of the world’s largest banking institutions and a major participant in financial-market research. A return projection from the firm does not guarantee performance, but it can draw attention because institutional views on digital assets have become increasingly relevant to broader market discussions.

The contrast highlighted by Benzinga underscores the evolving relationship between traditional finance and cryptocurrency. Major financial firms have continued to assess Bitcoin and related digital-asset markets even as executives, policymakers and investors differ sharply on their risks, valuation and long-term role in the financial system.