Calgary man experiencing homelessness given note he thought was worth $130K in Bitcoin

Brent Garrow spends a fair amount of time on Stephen Avenue in Calgary — busier than usual because of the holidays. Having experienced homelessness for the past six months, he says folks who pass by are often generous — handing him coffee, food and sometimes cash.

A homeless man in Calgary was given a note on Stephen Avenue that he initially mistook for a Bitcoin bill, which could be worth over $130,000.

Brent Garrow, who has been experiencing homelessness for the past six months, says he was approached by a man in a suit and tie who handed him the bill without saying anything and then walked away.

“I nearly threw it out, but I took a couple steps and went back to get it and started looking at it. I couldn’t find any information on bills.”

Garrow, who spends a fair amount of time on Stephen Avenue, says people are usually generous, often handing him coffee, food and sometimes cash.

But this time was different. He says the man who gave him the bill looked like he was dressed for a special occasion and was walking purposefully.

“He was fairly well-dressed. He had a suit and tie on and he just walked up and handed me the bill and said ‘Happy holidays’ and turned his head and walked away.”

Garrow went back to get the note after nearly throwing it away, thinking it might be a lucky break.

“I know nothing about the Bitcoin industry, per se, but here’s hoping,” he said with a laugh.

The note appeared to be the value of one Bitcoin, which currently trades for more than $130,000 Canadian. It’s an amount that would change the lives of anyone who had possession of it — if it turned out to be real.

But his hopes were quickly dashed when he realized the note was only worth the paper it was printed on.

“What I was looking for on that bill was either a QR code or the data the QR code contains, which is 24 random words which is how crypto wallets keep your cryptocurrency secure,” said Dennis Kasukawa, CEO of Vancouver Bitcoin.

“It’s like a password. If you lose that piece of paper, you lose access to your crypto.”

Kasukawa said cryptocurrency is managed online — through ‘wallets’ that give users access to the larger blockchain that holds Bitcoin, among many other currencies.

“Sometimes users will print that information on paper, but this note was not one of them.”

He said general acceptance and knowledge of cryptocurrency has exploded since he started his business in 2018.

“But there’s still some stigma about the phenomenon — and the sudden wealth some people believe it could bring.”

“(Bitcoin) has value at this point because people give it value. There are use cases for it, but you can’t go to the grocery store and buy your groceries with Bitcoin. It’s more a storage of value, like gold.”

Kasukawa said that like any other investment, people should spend their money wisely, and not treat it like a “get-rich-quick scheme.”

“If you’re going to buy into crypto, do your research and understand the technology. Don’t just buy it because you think it will make you rich quickly. It might not.”

Garrow said a lot less than $130,000 could change his whole life.

“Maybe $500 for the first month (of rent), $500 for a damage deposit, and $500 for food to get by for that month.

“That would give me a month where I’m not homeless and make me happy.”