Silicon Valley is hot on a new cryptocurrency that could become worth 100 times its current value

Ether, the unit of cryptocurrency used on the Ethereum blockchain, has given investors a wild ride lately.

Its value more than doubled in May, peaked in June at more than $400 an ether, and then lost more than half that value by early this week.

That may sound like a bubble bursting. But some investors are still optimistic and are prepared to ride it out.

Aaron Batalion, a partner at Lightspeed Venture Partners, said he expected to see more 50% price jumps in ether, with big returns down the road.

"Over the next five to 10 years, I believe it will be worth 10 or 100 times its current value," Batalion said.

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