Metaplanet Inc’s enterprise value has dipped below its Bitcoin reserves, with the Tokyo-listed company’s mNAV (the ratio of its market capitalization and debt to its token holdings) falling to 0.99 on Tuesday, according to Bloomberg. The firm, as of Oct 14, now holds 30,823 Bitcoin worth approximately $3.4 billion, yet trades for less than the value of its crypto assets. Notably, this growing financial imbalance facing Metaplanet is happening to the majority of digital asset treasury companies worldwide. ...