> The point of the metric I gave was that it is more robust of a measure to manipulation than market cap. What do you think is the "value under liquidation" [0]

The market cap of Google is 780 billion.

The value under liquidation of Google is (you can find this in their financial reports) ~100 billion. Even that is a vast overestimation of what it would fetch in a firesale, because it's assuming, for example, that with Google firesaling, the ad "inventory" would sell for what it's currently selling for. (There another 70 billion in "intangibles" (guess how much that fetches in a firesale)).

Granted that's pretty high (a company that pays dividends, like Microsoft, it'd be way less, and for insane stocks like Amazon ... let's not go there).

Which do you think reflects the value of Google ? It's an interesting question, and you can if you like get a bachelor, masters or PhD in various ways to answer that question.

But I would say there is no one good answer. Not for XRP, BTC, or for Google, not even for things like the US Dollar.