Kevin Durant's Bitcoin Journey: From Locked Out to Cashing In

NBA star Kevin Durant made a savvy investment in bitcoin back in 2016, but faced a frustrating hurdle: he was locked out of his Coinbase wallet for years. This week, that changed, and the value of his crypto has skyrocketed.

The Story Behind the Investment

Durant, along with his agent and business partner Rich Kleiman, first got into bitcoin after a birthday dinner hosted by venture capitalist Ben Horowitz in 2016. Kleiman recalled hearing the word 'bitcoin' repeatedly that night, sparking their interest. The next day, they started investing through Coinbase.

Basketball star Kevin Durant (right) and his longtime agent and business partner, Rich Kleiman. (Taylor Hill/Getty Images)

Years of Inaccessibility and Soaring Value

Despite their early entry into crypto, Durant and Kleiman lost access to the Coinbase account due to what Kleiman described as a "user error." For nearly a decade, they couldn't sell or manage the bitcoin, which has since surged in value. From below $650 in 2016, bitcoin's price has climbed to around $117,000—a roughly 180-fold increase. If Durant invested $10,000, he would now hold bitcoins worth over $1.8 million.

Regaining Access and Moving Forward

This week, Durant finally regained access to his account. A Coinbase source confirmed the access, and Kleiman noted that the process was straightforward with Coinbase's support tools. He joked that the inability to access the account actually benefited them, as the value continued to rise unchecked.

Kleiman emphasized their long-standing partnership with Coinbase, highlighting it as a valuable resource. The experience underscores the importance of secure account management in the volatile world of cryptocurrency.