Intuit Faces Criticism Over Bitcoin Bias, Shareholder Urges Policy Change
1min read Matt Cole, CEO of Strive Asset Management, has criticized intuit, the financial software giant, for what he perceives as harmful "censorship policies" and an "anti-bitcoin bias." In a letter to Intuit's leadership, Cole warned that these practices could jeopardize long-term shareholder value and urged the company to adopt bitcoin as part of its financial strategy.
Cole highlighted a recent incident where Mailchimp, a subsidiary of Intuit, temporarily deactivated the email account of the Trojan Bitcoin Club, a student organization at the University of Southern California. The account was deactivated simply because the club discussed bitcoin in its messages to members. Although the account was reinstated following public backlash, Cole argued that this incident is part of a broader pattern of deplatforming aimed at bitcoin developers, educators, and advocates.
He expressed concern that Mailchimp’s Acceptable Use Policy is being used not to mitigate real risks but as a political tool that could alienate users and shareholders. With federal regulators like the Federal Trade Commission beginning to investigate such cases of platform discrimination, Cole believes Intuit could face both reputational harm and legal scrutiny.
Writing on behalf of his clients, including Intuit shareholders, Cole emphasized that decisions appearing to prioritize political ideology over fiduciary responsibility are unacceptable. He urged Intuit to revise Mailchimp’s policies to remove political bias and reinstate any accounts that were banned solely for discussing bitcoin.
Beyond policy changes, Cole also encouraged Intuit to consider adding bitcoin to its corporate treasury. He sees BTC not just as a hedge against inflation but as a way to counter the growing risk that artificial intelligence could disrupt Intuit’s core services, such as TurboTax and QuickBooks. According to Cole, a bitcoin reserve could serve as a strategic defense in a rapidly changing tech landscape.
This is not Cole’s first push for corporate bitcoin adoption. In February, he sent a similar letter to GameStop, encouraging the company to convert its cash holdings into bitcoin. GameStop soon announced it would add BTC to its balance sheet and completed a $1.5 billion convertible note offering. The decision marked a milestone in Strive’s larger campaign to promote “apolitical excellence” and focus on long-term shareholder value over ideological agendas.
Cole’s challenge to Intuit signals that Strive isn’t slowing down. With tech companies under increasing scrutiny and AI innovation reshaping industries, Strive is betting that bitcoin will become an essential part of modern treasury strategy.
