Just going to throw my own opinion out here so feel free to ignore.

The fact that nobody really knows how to classify it is exactly why I will never touch it. If the winds or regulations change and people see it differently it changes the entire public perception of the "investment" or "currency".

The idea from JPM that it should be included in a portfolio as a hedge against traditional asset classes assumes we have a clue how the hell crypto acts over a long term time period. For all we know right now the last 10 years could just be a random fluctuation/act as the "asset" is too new to understand.

I'd never include any stock that acted the way crypto did in my portfolio, so I don't know why I would include Bitcoin.

I'd be genuinely curious to hear someone's thoughts as to why they have crypto in their portfolio that aren't simply "it could be huge one day" or "crypto is the future". Like is there any rational basis as to why someone should expect Bitcoin to hit any specific price targets in the future? Is there a reason the market shouldn't just forget about it, or a reason why it shouldn't lose 75% of its value?