Matt Cole, CEO of Strive Asset Management, is urging Intuit to reconsider its “censorship policies” and perceived anti-bitcoin stance following an incident where Mailchimp disabled an account related to bitcoin communications. In an open letter, Cole emphasized that such actions could harm Intuit’s shareholder value and invites further scrutiny from regulators amid rising concerns over tech censorship. He advocates for reinstating accounts banned for bitcoin-related content and suggests that Intuit could mitigate risks by adding bitcoin to its treasury as a safeguard against future disruptions, particularly from artificial intelligence. This follows his earlier successful push for GameStop to include bitcoin in its corporate reserves, illustrating a growing trend towards cryptocurrency adoption among major companies.
In a bold move for cryptocurrency advocacy, Matt Cole, the CEO of Strive Asset Management, has publicly urged Intuit, the parent company of TurboTax and QuickBooks, to reconsider its stance on Bitcoin. Cole’s call to action comes after an incident where Intuit’s Mailchimp email service disabled an account tied to the Trojan Bitcoin Club at USC for mentioning Bitcoin in their communications.
Cole expressed concern that Intuit’s censorship policies, which he labeled as an “anti-bitcoin bias,” could negatively affect the long-term value for shareholders. In an open letter addressed to Intuit’s CEO Sasan Goodarzi and board chair Susan Nora Johnson, he emphasized the potential risks of such policies, especially as more financial scrutiny on tech censorship mounts. The reinstatement of the Trojan Bitcoin Club’s Mailchimp account, following public backlash, highlighted what Cole views as a broader issue of deplatforming affecting cryptocurrency advocates and businesses.
He further warned that these actions could lead to reputational and legal risks for Intuit, as scrutiny from regulators like the Federal Trade Commission intensifies regarding platform discrimination. Cole suggests that the company reevaluate its policies to reflect a commitment to shareholder interests rather than ideological stances. He also called for Intuit to consider adding Bitcoin to its corporate treasury as a hedge against potential disruptions from artificial intelligence in the financial sector, stating that TurboTax is at risk of being automated.
Cole’s fervent letter follows previous success when he convinced GameStop to allocate a portion of its cash reserves towards Bitcoin, marking a potential shift in corporate financial strategies towards embracing digital assets.
As the crypto landscape continues to evolve, the calls for transparency and fair treatment of cryptocurrency discussions echo across the financial industry, marking a significant point in corporate governance and shareholder advocacy.
Tags: Bitcoin, Strive Asset Management, Intuit, cryptocurrency, censorship, financial risks, corporate governance, TurboTax, digital assets
What happened with GameStop and Bitcoin?
Recently, GameStop announced that it would start accepting Bitcoin as a payment method. This change signals their shift towards embracing digital currencies, and it may attract more crypto enthusiasts to their platform.
Who is Matt Cole?
Matt Cole is the leader of Strive, a company that focuses on positive change in the corporate world. Cole is now looking at tech companies like Intuit as part of his strategy for growth and innovation.
Why is Intuit important in the tech world?
Intuit is a major player in finance software, known for products like TurboTax and QuickBooks. Their importance lies in making financial processes easier for individuals and businesses alike, especially with the rise of digital payments.
How does this affect Bitcoin?
As more companies like GameStop accept Bitcoin, it can boost the legitimacy and use of digital currency. This could lead to increased consumer interest and drive further adoption in various markets.
What should investors be aware of?
Investors should keep an eye on trends in digital currency adoption. The movements of companies like GameStop and Intuit may influence how Bitcoin is viewed and utilized in commerce moving forward.