Top VC says that Ethereum and Bitcoin may race each other to $1 trillion valuation

Recent events in the blockchain industry have made some think that Ethereum is on its way to a $1 trillion valuation.

One investor in the space recently went as far as to say that there will be a "Race" between Bitcoin and Ethereum to reach a market capitalization of $1 trillion.

Ethereum and Bitcoin could "Race" to $1 trillion valuation.

On Aug. 9, Placeholder Capital's Chris Burniske rhetorically asked Crypto Twitter: "Ready to watch $BTC & $ETH race each other to a trillion in value?" In saying so, the prominent cryptocurrency investor is implying that the two blockchains will approach that milestone around the same time.

Ready to watch $BTC & $ETH race each other to a trillion in value? https://t.

For context, Bitcoin needs to rally approximately 400 percent from its current price of $11,800 to reach that $1 trillion milestone.

In June, the analyst, formerly of Bitcoin-friendly investor ARK Invest, noted that if Bitcoin crosses above $50,000, he thinks there is a likelihood "ETH [is] over $7,500." At $7,500, Ethereum would be just shy of the $1 trillion market capitalization that he believes may eventually be reached.

Other fund managers agree with Burniske's sentiment that Ethereum's market capitalization could hit $1 trillion in the near future.

"In 2017 ICOs aided in moving ETH beyond $100 billion marketcap. In this next cycle, Defi will likely help push ETH to $1 trillion marketcap."

This has been echoed to a T by Ryan Sean Adams of Mythos Capital, who published an article by DeFi analyst Lucas Campbell on how Ethereum could hit a $1 trillion market capitalization due to DeFi trends.