Metaplanet Inc.'s enterprise value has fallen below the value of its Bitcoin holdings, which stand at 30,823 BTC, valued at $3.5 billion as of October 2025. This development highlights a significant shift in the company's financial position, as it now holds more in Bitcoin than its current enterprise value. The situation raises questions about Metaplanet's financial stability and investment strategies, potentially affecting investor confidence. No official statements have been made by Metaplanet's leadership or industry figures regarding this valuation change.