BIS paper highlights discrepancies in Bitcoin transfer value metrics

A Bank for International Settlements (BIS) working paper published on Sept. 15 reveals that Bitcoin transfer-value estimates can vary by up to six times depending on the measurement methodology. The study identifies transaction aggregation, smart-contract programmability, and cross-chain activity as key factors causing divergence in economic data. The authors emphasize that researchers' interpretations of blockchain records significantly influence the resulting economic activity totals.