Fresh off convincing video retailer GameStop to convert some of its cash reserves into Bitcoin ( BTC ), Strive Asset Management CEO Matt Cole has written to urge financial software developer Intuit ( INTU ) to reverse what he calls its “censorship policies” and “anti-Bitcoin bias” because it could jeopardize long-term shareholder value.
In an open letter to Intuit CEO Sasan Goodarzi and board chair Susan Nora Johnson dated April 14, Cole pointed to a recent incident in which Intuit’s Mailchimp email marketing platform disabled the account of the USC student organization Troy Bitcoin Club because it mentioned cryptocurrency in an email to its members.
“We are concerned that Intuit’s censorship policies and anti-Bitcoin bias could destroy the company’s hard-earned shareholder value,” Cole wrote on behalf of clients including Intuit shareholders. Although Mailchimp later reinstated the account following public pressure, Cole said the incident reflected a “broader pattern of platform delistings” that included Bitcoin developers, educators, and businesses.
Cole said such actions expose Intuit, best known for its TurboTax tax preparation software and QuickBooks accounting software, to reputational and legal risks, especially as public concerns about technology censorship grow and federal regulators including the Federal Trade Commission (FTC) begin investigating platforms that discriminate based on speech or affiliation.
“Mailchimp’s acceptable use policy is being used as a political weapon rather than a tool to mitigate legitimate business risks,” Cole wrote, adding that “customers and shareholders alike are beginning to question whether Intuit is making decisions based on ideology rather than fiduciary responsibility.”
The letter calls on Intuit to restore accounts that were banned for posting Bitcoin-related content and to revise Mailchimp’s content policy to eliminate political considerations. The letter also urges Intuit to consider including Bitcoin in its corporate financials as a hedge against the disruptive effects of artificial intelligence.
“We believe that Intuit’s flagship product, TurboTax, is at high risk of being replaced by AI,” Cole wrote. “While we appreciate Intuit’s internal investments in AI, we believe additional hedging is necessary – and Bitcoin reserves are the best option at this time.”
This comes after Cole sent a letter to GameStop in February urging the company to convert its $5 billion cash reserves into Bitcoin. After receiving the letter, GameStop confirmed that it would add Bitcoin to its balance sheet and successfully completed a $1.5 billion convertible bond offering – making GameStop one of the first major retailers to align its financial strategy with what Strive calls the “Bitcoin Standard.”
The move marks a major early victory for Strive’s broader campaign to reshape corporate finance and governance to what Cole calls “apolitical excellence” and long-term shareholder value, uninfluenced by ideological agendas.
