After GameStop Bitcoin Victory, Strive's Cole Takes Aim at Intuit's Cryptocurrency Policies
Matt Cole, CEO of Strive Asset Management, has called on financial software developer Intuit to change its "censorship policies" and "anti-bitcoin bias" in an open letter dated April 14. The letter was addressed to Intuit CEO Sasan Goodarzi and board Chair Susan Nora Johnson.
Cole's concerns stem from a recent incident where Intuit's Mailchimp email platform disabled the account of the University of Southern California's Trojan Bitcoin Club for mentioning cryptocurrency in emails to members. Although Mailchimp later reinstated the account after public pressure, Cole claims this reflects a "broader pattern of deplatforming" affecting bitcoin developers, educators, and businesses.
Writing on behalf of clients who include Intuit shareholders, Cole warned that such actions expose the company to reputational and legal risks. He noted growing public concern around tech censorship and mentioned that federal regulators, including the Federal Trade Commission, are beginning to investigate platform discrimination based on speech or affiliations.
Cole criticized Mailchimp's Acceptable Use Policy as "being used as a political weapon, rather than a tool to mitigate legitimate business risk." He suggested that "customers and shareholders alike are starting to question whether Intuit is making decisions based on ideology rather than fiduciary duty."
The letter called for several actions: reinstating accounts banned for bitcoin-related content, revising Mailchimp's content policies, and considering adding bitcoin to Intuit's corporate treasury as a hedge against artificial intelligence disruption. Cole specifically mentioned concerns about TurboTax being "automated away by AI."
This approach follows Cole's February letter to GameStop, where he urged the company to convert its $5 billion cash reserve into bitcoin. Since then, GameStop has confirmed plans to add bitcoin to its balance sheet and completed a $1.5 billion convertible note offering.
This represents an early success for Strive's campaign to reshape corporate finance around what Cole describes as "apolitical excellence" and long-term shareholder value.
GameStop's recent $1.5 billion convertible debt offering exceeded initial expectations by $200 million, demonstrating strong investor interest. The notes will mature on April 1, 2030, with an initial conversion rate of 33 shares per $1,000 principal amount. Despite acknowledging cryptocurrency volatility risks in its SEC filing, GameStop's board approved investments in both Bitcoin and US dollar-pegged stablecoins on March 25.
