NBA star Kevin Durant can’t unlock his Coinbase bitcoin account

NBA superstar Kevin Durant is facing a unique challenge – he can’t remember the password to his Coinbase account, where he holds a significant amount of bitcoin that he started buying back in 2016 during his time with the Golden State Warriors. Despite this predicament, Durant’s agent, Rich Kleiman, sees it as a blessing in disguise.

According to Kleiman, they have been unable to access Durant’s Coinbase account for several years due to a “user error on our end.” However, this has turned out to be beneficial as the value of bitcoin has skyrocketed since Durant made his initial investment. Kleiman mentioned at CNBC’s Game Plan conference in Los Angeles that they have not sold any bitcoin yet, and the cryptocurrency’s value continues to rise.

Durant’s interest in bitcoin was piqued in 2016 when he overheard his teammates discussing the cryptocurrency at a dinner. This led him and Kleiman to start investing in bitcoin, although the exact amount of their investment remains undisclosed. At the time, bitcoin was trading between $360 and $1,000, but it has since surged to nearly $116,000, marking an increase of over 11,000% from its highest price in 2016.

Kleiman also revealed that he and Durant are investors in Coinbase Global, and the company has been instrumental in their business growth. In 2021, Thirty Five Ventures, the duo’s investment firm, struck a partnership with Coinbase to promote the trading platform and create content about digital assets for Durant’s sports and entertainment website, Boardroom.

Coinbase has assured that users like Durant can reset their passwords using self-service tools within the app. The platform also offers round-the-clock support for account recovery requests and other inquiries, ensuring that users can access their accounts seamlessly.

Overall, despite the initial setback of being unable to access his Coinbase account, Durant’s investment in bitcoin has proven to be highly lucrative. As he gears up to play for the Houston Rockets in the upcoming season, Durant’s bitcoin holdings continue to grow in value, showcasing the potential benefits of long-term cryptocurrency investments.