Matt Cole, CEO of Strive Asset Management, has persuaded video retailer Gamestop to convert some of its cash reserves into Bitcoin (BTC).
In an open letter dated April 14th, to Intuit CEO Sasan Goodarzi and board chair Susan Nora Johnson, Cole pointed to a recent incident in which Intuit’s MailChimp Email Marketing platform disables accounts of the University of Southern California student organization Trojan Bitcoin Club, referring to the crazy currency in emails to members.
“We are concerned that Intuit’s censorship policy and anti-Bitcoin bias threatens to destroy the shareholder value that the company has worked so hard to create,” Cole writes on behalf of clients, including Intuit shareholders. MailChimp later recovered the account following public pressure, but Cole said the episode reflected a “broader deplatforming pattern” that includes Bitcoin developers, educators and businesses.
Cole said such actions expose Intuit, known for its Turbotax Tax Preparation Software and QuickBooks Accounting Software, to reputation and legal risks, especially public concerns about the expansion of technology censorship and public concerns (FTCs) regarding federal regulatory authorities, including the Federal Trade Commission (FTC), to launch an investigation into platform discrimination based on speech or affiliation.
“MailChimp’s acceptable usage policy is used as a political weapon rather than a tool to mitigate legitimate business risk,” Cole wrote, adding, “customers and shareholders are beginning to question whether Intuit is making decisions based on ideology and not on fiduciary obligations.”
This letter will be called to Intuit to revive accounts that are prohibited with Bitcoin-related content and will modify MailChimp’s content policy to eliminate political considerations. It also urged Intuit to consider adding Bitcoin to the Ministry of Corporate Treasury as a hedge against the artificial intelligence disruption.
“We believe Intuit’s flagship product, Turbotax, is at high risk of being automated by AI,” writes Cole. “We appreciate Intuit’s internal investment in AI, but we believe there is a guaranteed additional hedge. We consider Bitcoin War Chest to be the best option.”
The move followed Coles’ February letter to GameStop, which prompted the company to convert its $5 billion cash reserve to Bitcoin. Since receiving the letter, GameStop has added Bitcoin to its balance sheet and confirmed it has successfully completed its $1.5 billion convertible note offering.
The move marked a significant early victory in Strive’s broader campaign to reshape corporate finances and governance, centering on what Cole calls “non-political excellence” and long-term shareholder value, which was released from the ideological agenda.
Arabic
Chinese (Simplified)
Dutch
English
French
German
Italian
Portuguese
Russian
Spanish