NBA Star Kevin Durant’s Bitcoin Investment Pays Off Big Time
NBA Star Kevin Durant’s Bitcoin Investment Turns Into Goldmine
NBA star Kevin Durant has hit the jackpot with a Bitcoin investment he made nearly a decade ago. Despite not being able to access his Bitcoin stash due to a forgotten login, Durant’s agent reveals that it has turned into one of his best investments.
How It All Started
Durant, who is set to play for the Houston Rockets this season, began buying Bitcoin in 2016 during his time with the Golden State Warriors. His agent, Rich Kleiman, shared at CNBC’s Game Plan conference in Los Angeles that Durant lost track of his Coinbase login details, preventing him from selling his Bitcoin.
Riding the Bitcoin Wave
Despite the login issue, Durant’s Bitcoin investment has skyrocketed in value. Bitcoin, which traded between $360 and $1,000 in 2016, now exceeds $116,000, marking gains of over 11,000% from Durant’s initial investment period.
Interest in Digital Assets
Kleiman mentioned that Durant’s interest in digital assets was piqued after a dinner in 2016 where teammates discussed Bitcoin extensively. The following day, Durant and Kleiman started investing in the cryptocurrency.
Collaboration with Coinbase
Thirty Five Ventures, Durant and Kleiman’s firm, has collaborated closely with Coinbase, including a multiyear promotional deal in 2021. Kleiman stated that they are working with Coinbase to resolve Durant’s account access issue, emphasizing the exchange as a valuable resource for their business growth.
Looking Ahead
Despite the account access setback, Durant, a two-time NBA champion and Olympic gold medalist, is gearing up for his Rockets debut in the upcoming season after his time with the Phoenix Suns.
Mentioned in this article