Imagine putting $1,000 into Bitcoin about ten years ago. Today, that investment would be worth roughly $228,000, a staggering 22,700% gain. It’s the kind of return that makes you wish you could rewind time and give your past self some advice.
But very few people actually experienced this windfall. Data from JPMorgan shows only 17% of active Chase checking account holders shifted money into crypto between 2017 and 2025. The vast majority stayed on the sidelines, missing out on one of the biggest rallies in recent financial history.
JPMorgan’s CEO Jamie Dimon and his team are now warning that the era of cheap borrowing is over. Their analysis suggests interest rates may climb toward 8% or more due to government deficits and elevated spending, marking a clear break from the low-rate environment that supported booming asset prices after 2008 and during the pandemic.
With nearly half of Americans living paycheck to paycheck, rising borrowing costs make risky investments like cryptocurrencies less appealing. When savings accounts begin offering meaningful yields, many prefer safer options over the volatility of digital assets.
JPMorgan also highlights a growing divide between institutional investors and everyday people. While institutional players eagerly pour money into Bitcoin and Ethereum ETFs and develop new crypto products, most retail investors only jump in when prices are already surging. This reactive behavior means they often buy at the market's most expensive points.
This gap is striking. Despite widespread access to Bitcoin through major brokerages and flashy crypto ads, mass adoption remains limited. Meanwhile, Wall Street’s interest deepens, creating an uneven landscape between sophisticated investors and casual participants.
Rising interest rates traditionally dampen demand for speculative assets. The increase in borrowing costs curbs leveraged betting, as was witnessed in 2022 when Federal Reserve rate hikes slowed down crypto markets significantly.
