NBA superstar Kevin Durant stored a Bitcoin when he opened an account on a certain exchange in 2016, and later was “forced” to hold it long-term due to forgetting his login password. This seemingly humorous incident turned out to be his most successful investment decision.
Wealth Growth Behind the Forgotten Password
When Kevin Durant first purchased Bitcoin, the price ranged between $360 and $1,000. Years later, the value of this asset has increased by over 11,000%. According to the latest data, Bitcoin has surpassed the $86,000 mark, with remarkable growth. When this NBA star finally regained access to his account, he discovered that he had become an unintended long-term profit-maker.
The Double-Edged Sword of Custodial Services
The turning point in the story is that Kevin Durant was able to recover his account access through customer support of the exchange. This shows that legitimate custodial services are secure, but it also exposes a problem—the risk of relying on a single platform to store assets.
Diversification Is the Right Path
Industry consensus is: the wisest holders are not those who trade frequently, but those who can hold long-term and diversify their assets across multiple secure locations. Whether it’s custodial wallets, hardware wallets, or cold storage, diversified asset allocation can protect your wealth against any single risk.
Kevin Durant’s story tells us: sometimes “forgetting” can become the best investment strategy, but more importantly, don’t put all your eggs in one basket.
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
The most insightful crypto holder: The accidental long-term investor Kevin Durant
NBA superstar Kevin Durant stored a Bitcoin when he opened an account on a certain exchange in 2016, and later was “forced” to hold it long-term due to forgetting his login password. This seemingly humorous incident turned out to be his most successful investment decision.
Wealth Growth Behind the Forgotten Password
When Kevin Durant first purchased Bitcoin, the price ranged between $360 and $1,000. Years later, the value of this asset has increased by over 11,000%. According to the latest data, Bitcoin has surpassed the $86,000 mark, with remarkable growth. When this NBA star finally regained access to his account, he discovered that he had become an unintended long-term profit-maker.
The Double-Edged Sword of Custodial Services
The turning point in the story is that Kevin Durant was able to recover his account access through customer support of the exchange. This shows that legitimate custodial services are secure, but it also exposes a problem—the risk of relying on a single platform to store assets.
Diversification Is the Right Path
Industry consensus is: the wisest holders are not those who trade frequently, but those who can hold long-term and diversify their assets across multiple secure locations. Whether it’s custodial wallets, hardware wallets, or cold storage, diversified asset allocation can protect your wealth against any single risk.
Kevin Durant’s story tells us: sometimes “forgetting” can become the best investment strategy, but more importantly, don’t put all your eggs in one basket.