Strive Urges Intuit to Follow GameStop’s Bitcoin Purchase Strategy

After successfully lobbying GameStop to add Bitcoin (BTC) to its balance sheet, Strive Asset Management CEO Matt Cole has turned his attention to Intuit, urging the U.S. fintech giant to follow suit. In an April 14 open letter to Intuit CEO Sasan Goodarzi, Cole contends that Intuit should purchase Bitcoin to hedge against the mounting risk that artificial intelligence (AI) may disrupt its core business lines.

Why Bitcoin for Intuit?

Cole commends Intuit’s remarkable growth and AI initiatives, but he fears TurboTax—the firm’s leading tax software—and other services could be threatened by the rise of generative AI:

“While we appreciate Intuit’s own investments in AI, we believe an additional hedge is warranted, and that a Bitcoin war chest is the best option available.”

He explains that holding BTC could offer Intuit a strategic reserve to weather an uncertain future. Bitcoin, he argues, has historically served as a hedge in turbulent markets. The asset’s decentralized nature and finite supply, Cole says, offer a unique store of value distinct from the company’s current cash holdings.

Following the GameStop Playbook

In February, Cole made a similar pitch to GameStop. By April, the retailer confirmed it had finished a convertible debt offering that raised $1.5 billion, part of which would go toward buying Bitcoin. This success emboldened Strive to take aim at Intuit, whose subsidiaries, such as TurboTax and QuickBooks, are pillars in tax preparation and small business accounting.

Cole specifically warns that TurboTax is at risk of “being automated away by AI,” especially as large language models and advanced machine learning become more proficient at tax filing and financial data analysis. A “Bitcoin war chest” would provide Intuit with strategic capital to respond to or acquire any emerging AI threats.

Mailchimp’s Crypto Policy Under Fire

Cole also criticizes Mailchimp, the email marketing platform owned by Intuit, for its “blanket ban” on crypto-related businesses. Mailchimp’s acceptable use policy restricts the platform from servicing accounts directly involved in “the sale, exchange, or marketing of cryptocurrencies.”

Cole cautions that this stance risks shutting out legitimate crypto-based entrepreneurs and “Bitcoin enthusiasts,” thereby harming Intuit’s long-term shareholder value. He insists the “crypto-friendly Trump administration” has changed the legal climate, creating a more welcoming environment for the digital asset industry:

“With crypto’s legal status clearer than ever, it’s time to amend the acceptable use policy to end the blanket ban on crypto-related businesses.”

Intuit’s Decision and Potential Impact

While Strive’s suggestions are non-binding, they highlight a wider movement among corporate activists and asset managers to push major companies into holding Bitcoin. GameStop was one of Cole’s high-profile successes—though the full effect on the retailer’s balance sheet remains to be seen.

Intuit holds a major footprint in both consumer and business-facing software. Should the company choose to align with Strive’s plan, it may set another precedent for integrating BTC into corporate treasuries. Critics caution, however, that Bitcoin remains volatile and thus poses an additional operational risk, especially for companies whose revenue streams might face existing disruption from AI.

Strive Intuit Bitcoin efforts underscore a growing push among activist asset managers to see large corporations adopt BTC as both a strategic reserve and a hedge against AI-driven upheaval. Whether Intuit embraces these recommendations may hinge on the company’s risk appetite—and on how leadership weighs Bitcoin’s volatility versus the potential benefits of holding it on the balance sheet.