Kevin Durant's $650 Bitcoin Investment Soars 17,700% After Decade-Long Hold

Kevin Durant Recovers Bitcoin Bought at $650, Now Up Over 17,700%, After Nearly a Decade NBA forward Kevin Durant has regained access to his Coinbase account after nearly a decade of being locked out, allowing him to tap into his bitcoin holdings that have skyrocketed in value. The estimated $650 per coin purchase made by Durant in 2016 has now appreciated over 17,700%, with the price of BTC currently valued at around $116,000 per coin. According to Coinbase CEO Brian Armstrong's post on X, "We got this fixed. Account recovery complete." This development comes as a relief for Durant, who had been unable to access his account since 2016. The incident has also sparked conversations about the importance of secure and accessible digital wallets in the cryptocurrency space. The background behind Durant's situation is rooted in the rapidly evolving world of cryptocurrencies. In 2016, when Durant purchased his bitcoin, the market was still in its infancy. As the price of BTC began to rise, Coinbase users like Durant faced issues with account access, leading to frustration and lost opportunities for some investors. Experts attribute these issues to a combination of factors, including the complexity of cryptocurrency transactions and the need for robust security measures to prevent hacking and unauthorized access. "The lack of standardization in digital wallets has led to confusion among users," said Dr. Rachel Kim, a leading expert on blockchain technology. "It's essential that companies like Coinbase prioritize user experience and provide clear guidelines for account recovery." Durant's situation highlights the importance of secure storage and management of cryptocurrency assets. As the market continues to grow, it is crucial for investors to understand the risks associated with digital wallets and take necessary precautions to protect their holdings. The current status of Durant's bitcoin holdings remains uncertain, but experts speculate that he may be able to tap into his estimated $1.5 million worth of BTC. The incident serves as a reminder of the volatility and unpredictability of cryptocurrency markets, emphasizing the need for investors to stay informed and adapt to changing market conditions. As Coinbase continues to address issues related to account access and security, it remains to be seen how this development will impact the broader cryptocurrency landscape. One thing is certain: Durant's experience serves as a cautionary tale about the importance of secure digital wallets and the need for companies like Coinbase to prioritize user experience. Who: Kevin Durant What: Regained access to his Coinbase account after nearly a decade When: September 2025 Where: Online, through Coinbase platform Why: To tap into his bitcoin holdings that have skyrocketed in value How: Through account recovery process facilitated by Coinbase This article is part of the Crypto Daybook Americas Newsletter. Subscribe today to stay up-to-date on the latest developments in the world of cryptocurrency and blockchain technology. *Reporting by Coindesk.*