Kevin Durant, the Houston Rockets forward known for his on-court prowess, has potentially scored big off the court with a remarkable investment in Bitcoin. Reports indicate that Durant regained access to a Coinbase account containing Bitcoin he purchased back in 2016, during his tenure with the Golden State Warriors. What initially started as a casual conversation about cryptocurrency among teammates has now translated into a staggering investment that has appreciated over 11,000 percent.
In an intriguing twist, Durant had forgotten his password to the account for years but successfully regained access this week. Back in 2016, he bought Bitcoin when its price was below $650, and it has since skyrocketed to nearly $116,000—a leap that could turn a modest $10,000 investment into a fortune. His long-time business partner and agent, Rich Kleiman, spoke about the difficulties they faced while attempting to retrieve the login credentials, describing the situation as “actually insane.”
Kleiman highlighted the irony of their struggle, especially given that Durant’s investment firm, 35V, had invested in Coinbase early and had a partnership with the platform. The inability to sell the Bitcoin turned out to be a blessing in disguise, as the digital currency held steady while its value soared.
Durant’s foray into the world of cryptocurrency began during a dinner with Olympic teammates, who sparked his interest in Bitcoin. The following day, Durant and Kleiman decided to invest, with the exact number of coins remaining undisclosed. However, the timing of their investment placed Durant in a prime position to benefit from one of the most significant financial booms in recent history.
A representative confirmed that access to the Coinbase account has been restored, and a source from Coinbase corroborated this update, although no specific details about the holdings were shared. The cryptocurrency exchange emphasized that their app provides tools and support services for password resets.
Kleiman acknowledged that the issue stemmed from user error but commended Coinbase for its support over the years. For Durant, this recent success in cryptocurrency adds to his impressive portfolio, which includes various investments in technology and media ventures. This latest development underscores that his financial acumen is as formidable as his basketball skills, setting him up for stability well beyond his athletic career.
