A Forgotten Key to Fortune: How Losing Access to Bitcoin Built a Windfall

NBA star Kevin Durant's forgotten Coinbase account, containing a significant amount of Bitcoin, has turned into a lucrative investment despite the lost login credentials. According to Durant's business partner and agent, Rich Kleiman, the inability to access the account has inadvertently forced a long-term holding strategy. The account, first established in 2026 during a dinner with teammates and venture capitalist Ben Horowitz, has seen Bitcoin's price surge from between $360 and $1,000 to approximately $117,753 as of the latest data. This represents a growth of over 11,000 percent since Durant initially began investing. Kleiman noted that despite efforts to recover the login information, the situation has been an advantage due to Bitcoin's increasing value.

The irony of the situation lies in Durant and Kleiman being investors in Coinbase itself. In 2021, their company, Thirty Five Ventures, partnered with Coinbase to promote the platform through content for Durant’s media brand, Boardroom. Despite this relationship, they have not yet resolved the login issue and are still working with Coinbase on a solution. Kleiman described the problem as a “user error on our end,” indicating that the resolution is ongoing.

Kleiman explained that the experience has highlighted the risks associated with misplaced login information and the potential upside of long-term investing without the temptation to sell. The inability to access the account has forced Durant's team to view it as a "forced holding," which has ultimately benefited them as Bitcoin's price continues to rise. Coinbase, in response to the situation, reminded users that they can generally reset their passwords using built-in tools and have round-the-clock support for more complex recovery issues.

Despite the challenges, Kleiman emphasized that the situation has been a positive outcome due to Bitcoin's performance. The account has remained untouched, allowing the investment to grow significantly over time. This case serves as a unique example of how being locked out of an account can lead to substantial gains if the underlying asset continues to appreciate in value.

In a recent development, Business Insider reported that Durant may have regained access to the account, citing Durant’s agent and a source from Coinbase. However, neither Durant nor his team has officially confirmed this information, leaving the status of the account in question. This situation underscores the importance of proper account management and the potential rewards of long-term cryptocurrency investments.