Index prototype
Bitcoin means of exchange
How the BMEAI was built, then the monthly composite. January 2024 = 100. Sample through June 2026.
Start
100.0
Jan 2024
Latest
695.4
Jun 2026
Month change
17.6
points
Year change
220.2
vs Jun 2025
3-month avg
677.8
smoothed
How the model was built
- 1Define the object. Measure Bitcoin used to settle exchanges of value, not trading or holdings. The unit is a monthly global composite.
- 2Select five factors. Lightning routed volume, entity-adjusted on-chain volume, processor merchant payments, P2P and remittance flow, and infrastructure breadth.
- 3Clean the inputs. Missing months are filled forward and back. Non-positive values are floored. Volumes stay in USD so the factors are comparable.
- 4Normalize. Each factor is divided by its January 2024 value and multiplied by 100.
- 5Weight. 30% Lightning, 25% on-chain, 20% processors, 15% P2P and remittance, 10% infrastructure.
- 6Aggregate. The headline index is the weighted sum of those sub-indices. A 3-month average sits beside the raw series.
- 7Read the output. On this sample the index rises from 100 in January 2024 to 695.4 in June 2026, led by Lightning and processors.
30%
Lightning
25%
On-chain
20%
Processors
15%
P2P / remit
10%
Infrastructure
BMEAI = 0.30 Lightning + 0.25 On-chain + 0.20 Processors + 0.15 P2P + 0.10 Infrastructure
Model output
Index level. January 2024 = 100. Latest point is June 2026 at 695.4.
What produced the path
Each factor indexed to January 2024, with the composite overlaid.
Monthly series
| Month | BMEAI | MA3 | Lightning | On-chain | Processors | P2P | Infra |
|---|---|---|---|---|---|---|---|
| 2024-01 | 100.0 | 100.0 | 100 | 100 | 100 | 100 | 100 |
| 2024-02 | 117.8 | 108.9 | 133 | 110 | 117 | 110 | 105 |
| 2024-03 | 137.2 | 118.3 | 167 | 125 | 133 | 120 | 113 |
| 2024-04 | 156.5 | 137.2 | 200 | 140 | 150 | 130 | 120 |
| 2024-05 | 184.3 | 159.3 | 267 | 150 | 167 | 140 | 125 |
| 2024-06 | 212.2 | 184.3 | 333 | 160 | 183 | 150 | 130 |
| 2024-07 | 241.5 | 212.7 | 400 | 175 | 200 | 160 | 138 |
| 2024-08 | 270.8 | 241.5 | 467 | 190 | 217 | 170 | 145 |
| 2024-09 | 298.7 | 270.3 | 533 | 200 | 233 | 180 | 150 |
| 2024-10 | 326.5 | 298.7 | 600 | 210 | 250 | 190 | 155 |
| 2024-11 | 345.8 | 323.7 | 633 | 225 | 267 | 200 | 163 |
| 2024-12 | 365.2 | 345.8 | 667 | 240 | 283 | 210 | 170 |
| 2025-01 | 383.0 | 364.7 | 700 | 250 | 300 | 220 | 175 |
| 2025-02 | 400.8 | 383.0 | 733 | 260 | 317 | 230 | 180 |
| 2025-03 | 410.2 | 398.0 | 733 | 275 | 333 | 240 | 188 |
| 2025-04 | 439.5 | 416.8 | 800 | 290 | 350 | 250 | 195 |
| 2025-05 | 457.3 | 435.7 | 833 | 300 | 367 | 260 | 200 |
| 2025-06 | 475.2 | 457.3 | 867 | 310 | 383 | 270 | 205 |
| 2025-07 | 494.5 | 475.7 | 900 | 325 | 400 | 280 | 213 |
| 2025-08 | 510.5 | 493.4 | 933 | 340 | 400 | 290 | 220 |
| 2025-09 | 531.7 | 512.2 | 967 | 350 | 433 | 300 | 225 |
| 2025-10 | 549.5 | 530.6 | 1000 | 360 | 450 | 310 | 230 |
| 2025-11 | 568.6 | 549.9 | 1033 | 375 | 467 | 320 | 235 |
| 2025-12 | 587.4 | 568.5 | 1067 | 390 | 483 | 330 | 238 |
| 2026-01 | 605.0 | 587.0 | 1100 | 400 | 500 | 340 | 240 |
| 2026-02 | 622.6 | 605.0 | 1133 | 410 | 517 | 350 | 243 |
| 2026-03 | 641.4 | 623.0 | 1167 | 425 | 533 | 360 | 245 |
| 2026-04 | 660.3 | 641.4 | 1200 | 440 | 550 | 370 | 248 |
| 2026-05 | 677.8 | 659.8 | 1233 | 450 | 567 | 380 | 250 |
| 2026-06 | 695.4 | 677.8 | 1267 | 460 | 583 | 390 | 253 |
Prototype sample. Regional shares are not shown. Replace the series with live feeds before operational use.