tl;dr
Kevin Durant regained access to a Coinbase account opened in 2016 after years of reported issues. His initial Bitcoin investment, around $650 per coin, now exceeds $116,000 per coin, with a $10,000 investment worth nearly $1.8 million. The account recovery followed discussions at a CNBC conference a...
**Kevin Durant’s Bitcoin Journey: From 2016 Investment to Coinbase Recovery**
Kevin Durant’s long-standing battle to access a Coinbase account opened a decade ago has finally reached a resolution. The NBA star, who first entered the cryptocurrency market in late 2016 when Bitcoin was trading around $650, has regained access to the account after years of speculation about a “permanent lockout.” The news comes just weeks before Durant’s return to the court with the Houston Rockets, but the story of his crypto holdings has already made waves in financial circles.
Bitcoin’s meteoric rise since Durant’s initial investment underscores the sheer magnitude of his stake. At the time, a $10,000 investment would now be worth nearly $1.8 million, while a single Bitcoin purchased in 2016 is now valued at over $116,000. Over the past five years alone, Bitcoin’s price has surged more than 950%, turning early bets into life-changing sums. For Durant, the recovery isn’t just about regaining control of assets—it’s about reclaiming a piece of his financial legacy.
The account issue surfaced during a discussion at CNBC’s Game Plan conference in Los Angeles, where Durant’s business partner, Rich Kleiman, revealed that the NBA star had been locked out for years. Hours later, Coinbase CEO Brian Armstrong addressed the matter on social media, confirming the recovery process had been completed. The resolution highlights the challenges even high-profile investors face in navigating the evolving crypto landscape.
Durant’s ties to Coinbase run deeper than a user account. In 2017, he and Kleiman added the exchange to the portfolio of their 35V investment firm, and in 2021, the pair signed a marketing deal making Durant a public ambassador for the platform. Yet, despite these partnerships, Durant was unable to access Bitcoin purchased before the collaborations—a quirk that underscores the technical complexities of crypto ownership.
For investors, Durant’s story is a cautionary tale and a testament to the potential of long-term crypto holdings. It also raises questions about the accessibility of digital assets, even for those with significant influence. As the crypto market continues to mature, stories like Durant’s remind us that the journey from early adoption to financial windfall is as volatile as it is rewarding.
With his account restored, Durant now holds the keys to a fortune that has grown beyond imagination—proof that sometimes, the biggest gains come from bets placed years before the world caught on.