Michael Dell Sells Company Shares, Potentially Eyeing Bitcoin Purchase

Michael Dell, founder and CEO of Dell Technologies (DELL), has sold 10 million shares of his company, worth about $1.22 billion, in his second major sale of the month.

According to a filing with the Securities and Exchange Commission (SEC) on September 30, Dell sold 10 million shares but still held more than 16.91 million shares, worth more than $2 billion at the time of publication.

This is the second time in a month that Dell has sold a large amount of stock. He previously disclosed on September 23 that he sold 10 million shares of his company, worth about $1.17 billion, in seven transactions between September 19 and 23.

Dell Technologies shares have risen 58.5% this year, according to Google Finance. Thanks to this momentum, the company rejoined the S&P 500 on September 24 — an index that tracks the 500 largest companies in the United States.