Fresh From Convincing GameStop to Buy Bitcoin, Strive Asset Management CEO Matt Cole Now Wants Intuit to Do the Same

input: Fresh from successfully convincing game retailer GameStop to add Bitcoin to its balance sheet, Strive Asset Management CEO Matt Cole has now set his sights on fintech firm Intuit to do the same.

Strive Asset Management CEO Matt Cole has penned an open letter to fintech firm Intuit to advise it on including Bitcoin in its balance sheet.

Uncovering Intuit's Growth Potential: A Collective Effort

In his letter dated April 14, addressed to Intuit CEO Sasan Goodarzi, Cole highlighted the company's impressive growth in recent years. However, he argued that the best way to ensure long-term success and hedge against any potential disruption caused by artificial intelligence is for Intuit to adopt Bitcoin.

"We believe that the best way to ensure the company's long-term success and hedge against any potential disruption caused by artificial intelligence is for Intuit to adopt Bitcoin," stated Cole.

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Intuit, the company behind the popular tax preparation app TurboTax and the small business accounting software Quickbooks, recently laid off 10% of its staff as part of its broader AI strategy. While Cole acknowledged Intuit's internal efforts in AI, he suggested an additional hedge is needed, especially considering TurboTax could be at risk of automation by AI.

"We believe an additional hedge is warranted, and that a Bitcoin war chest is the best option available."

According to Cole, such a war chest will ensure Intuit has "enough strategic capital to weather the AI storm and act from a position of strength through the turbulence of the AI revolution."

Earlier this year, Cole wrote a similar letter to GameStop CEO Ryan Cohen to advise the gaming retailer to use its $4.6 billion in cash to buy Bitcoin.

GameStop's Cohen acknowledged the letter in an April 1 regulatory filing and revealed his company had finished a convertible debt offering that raised $1.5 billion, with some proceeds earmarked for buying Bitcoin.

Strive Urges Intuit to Change Crypto Policy

In his letter to Intuit, Cole also said the firm should reconsider the acceptable use policy for its marketing platform Mailchimp, which has continued to suspend crypto-related accounts over policy violations.

An excerpt from Matt Cole’s letter to Sasan Goodarzi, CEO of Intuit, among other suggestions.

According to Cole, he “remains concerned that Intuit’s censorship and de-platforming policies discriminate against Bitcoin enthusiasts, which may harm long-term shareholder value.”

Mailchimp has said that crypto-related content isn’t necessarily banned under its policy, and crypto content can be sent provided the sender isn’t involved in the sale, exchange, or marketing of crypto.

Its current acceptable use policy states that the platform might not allow accounts that offer “cryptocurrencies, virtual currencies, and any digital assets related to an initial coin offering.”

According to Cole, Mailchimp likely adopted its policies when the legal status of crypto and related businesses was uncertain, but said with the crypto-friendly Trump administration, it’s time to “amend the acceptable use policy to end the blanket ban on crypto-related businesses.”

Intuit did not immediately respond to a request for comment.