The Young Men's Christian Association (YMCA) had a big part in the spread of this sport to many countries, and as many as 21 teams competed in the first Olympic basketball tournament.

The U.S. winning streak ended in 1972, when the Soviet Union controversially won the gold medal game against the United States by one point.

[7][8] The U.S. team reclaimed the gold medal in 1976, with Yugoslavia, which had beaten the Soviet Union in the semifinal, finishing runner-up for the second time.

In 1980, with the Americans' absence due to the boycott, Yugoslavia became the third team to win the title, after beating the Soviets anew in the semifinals and Italy in the final.

The Soviet Union entered teams of athletes who were all nominally listed in the military, but all of whom were in fact paid by the state to train full-time.

[4][9][10][11] In April 1989, through the leadership of Secretary General Borislav Stanković, FIBA approved the rule that allowed NBA players to compete in international tournaments, including the Olympics.

[4] In the 1992 Summer Olympics, the U.S. "Dream Team" won the gold medal with an average winning margin of 44 points per game, and without calling a timeout.

By this time, the Soviet Union and Yugoslavia no longer existed, but their successor states continued to be among the leading forces.

Two newly independent countries of the former Yugoslavia and Soviet Union, Croatia and Lithuania, won the silver and bronze medals respectively.

The U.S. won again in 2016, defeating the Serbians in the gold medal game, a rematch of the 2014 FIBA Basketball World Cup Final, after eliminating the Spaniards, who settled for bronze.

The American team defended their title by winning again at the 2020 Games in Tokyo, extending their run to four consecutive gold medal finishes, and seven out of the last eight.