NBA star Kevin Durant is facing a curious challenge: he can’t access his Coinbase account, which holds a significant amount of bitcoin he started purchasing back in 2016. This was during his time with the Golden State Warriors, shortly after a dinner conversation about cryptocurrency sparked his interest.
According to his agent, Rich Kleiman, this mix-up has surprisingly worked in their favor. “Since we haven’t sold anything, that bitcoin is just skyrocketing,” Kleiman explained during CNBC’s Game Plan conference. With bitcoin’s price soaring from around $360-$1,000 in 2016 to nearly $116,000 today, this investment has ballooned in value.
Experts say this scenario is not uncommon. Many people struggle with password recovery for digital wallets. A recent survey by Cybersecurity Insiders revealed that nearly 30% of respondents faced similar access issues with their cryptocurrency accounts due to forgotten credentials.
Kleiman mentioned that they have been working with Coinbase to recover Durant’s account for a few years now. Fortunately, the platform offers self-service tools to reset passwords and has a support team available around the clock.
In addition to his personal investments, Durant and Kleiman’s company, Thirty Five Ventures, have partnered with Coinbase to promote the platform. This includes creating content about digital assets for Durant’s sports and entertainment site, Boardroom.
Coinbase has been instrumental for many investors, providing valuable resources for growing their portfolios. As cryptocurrencies continue to gain traction, this partnership highlights the increasing importance of digital finance in sports and entertainment.
So while Durant waits to regain access to his account, his investment continues to flourish, showcasing the unpredictable yet intriguing world of cryptocurrency.
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