Source: Cointelegraph Original: "{title}"
After successfully persuading the game retailer GameStop to include Bitcoin (BTC) on its balance sheet, Matt Cole, CEO of Strive Asset Management, is now turning his attention to the fintech company Intuit, hoping it will follow suit.
In an open letter to Intuit CEO Sasan Goodarzi on April 14, Cole stated that Intuit's growth is admirable, but Bitcoin (BTC) is the best way to ensure the company's long-term success and to combat the potential disruption caused by artificial intelligence (AI).
Intuit's flagship products are its tax filing application TurboTax and small business accounting software QuickBooks. The company laid off 10% of its workforce last July to advance its AI projects, but Cole indicated that additional hedging measures are needed as TurboTax faces the risk of being automated by AI.
"While we appreciate Intuit's own investments and internal implementations in AI, we believe that additional hedging measures are necessary, and Bitcoin reserves are currently the best option," Cole said.
An excerpt from Matt Cole's letter urges Intuit to consider incorporating Bitcoin into its balance sheet, along with other suggestions. Source: Strive Asset Management
He added that this Bitcoin reserve would ensure Intuit has "sufficient strategic capital to remain strong amid the AI storm and to navigate the turbulence of the AI revolution with composure."
Cole had previously sent a similar letter to GameStop CEO Ryan Cohen in February, suggesting that the game retailer use its $4.6 billion in cash to purchase Bitcoin.
Cohen confirmed the letter in regulatory filings on April 1, revealing that the company had completed a convertible debt issuance, raising $1.5 billion, part of which would be used to buy Bitcoin.
In his letter to Intuit, Cole stated that the company should reconsider the acceptable use policy of its marketing platform Mailchimp. He noted that the platform continues to suspend cryptocurrency-related accounts due to policy violations.
Source: Strive Asset Management
Cole expressed that he "remains concerned that Intuit's review and de-platforming policies discriminate against Bitcoin enthusiasts, which could harm long-term shareholder value."
Mailchimp stated that its policies do not necessarily prohibit cryptocurrency-related content, as long as the sender is not involved in the sale, trading, or marketing of cryptocurrencies.
Its current acceptable use policy indicates that the platform may not allow accounts that provide "cryptocurrencies, virtual currencies, and any digital assets related to initial coin offerings."
According to Cole, Mailchimp may have adopted its policy amid the uncertain legal status of cryptocurrencies and related businesses, but he believes it is time to "revise the acceptable use policy and end the blanket ban on cryptocurrency-related businesses" under the cryptocurrency-friendly Trump administration.
As of the time of publication, Intuit had not responded to requests for comment.
Related: CleanSpark begins selling Bitcoin, shifting to a "self-funding" model
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