But since then, their investment has paid off big-time. A source close to the Winkelvoss brothers says they haven't sold any of their Bitcoins since April. Bitcoins are now worth $350, almost three times the $120 the New York Times quoted in its April 11 story. So that $11 million worth of bitcoins is now worth around $32 million.
Almost tripling your money in seven months isn't bad. But the Winklevii may have done even better than that. The Times reported that the brothers "began dabbling in bitcoin last summer when the dollar value of a single coin was still in the single digits." If they bought bitcoins at the July 2012 price of $9, each one is now worth 40 times what they paid for it.
Update: After this story was published, I received confirmation that the Winklevoss brothers did, in fact, hold onto their bitcoinss after April's crash. A source close to the Winklevii says the brothers now hold 1 percent of all Bitcoins in circulation, worth more than $40 million. I've updated the story accordingly.