96: George Bordianu ON: Why Most Canadians Don’t Actually Own Their Bitcoin

How safe is your Bitcoin, really?



In this episode, I sit down with George Bordianu, co-founder and CEO of Balance, Canada’s oldest and largest digital asset custodian. Balance has been operating since 2017, holds roughly $3 billion in client assets (depending on market prices), and is regulated under a trust charter from Alberta Treasury Board and Finance.

We talk about why self-custody isn’t always practical, how most retail investors end up with “paper Bitcoin” instead of actual Bitcoin, and how Balance creates wallets with full legal title for clients while keeping assets secured offline in military-grade hardware inside bank-grade vaults. George also explains what it takes to protect assets against hackers and physical threats, and why he believes building and keeping crypto infrastructure in Canada is critical for the country’s financial future.

You’ll Learn:

• The real reason most Canadians end up with “paper Bitcoin” instead of actual Bitcoin
• The surprising link between vault security and digital asset protection
• How Balance creates wallets with full legal title for individual investors
• The quiet damage of Canada losing crypto companies and assets to the US
• What happens when Bitcoin is used as collateral for loans and mortgages
• How Balance protects assets against both hackers and physical threats
• The slow but essential shift toward regulated crypto custody in Canada
• Why quantum computing is already on the radar for custodians like Balance

Timestamps:

[00:00] Introduction

[05:00] Why custodians matter alongside self-custody for Bitcoin

[09:00] How Balance secures assets against hackers and physical threats

[13:00] The difference between legal title and “paper Bitcoin”

[17:00] Why custody is the biggest roadblock for Bitcoin payroll adoption

[19:00] How Canadian law protects client assets in a custodian insolvency

[21:00] Using Bitcoin as collateral for mortgages and loans

[24:00] Why quantum computing is a real future risk for custody systems

[28:00] The regulatory challenges pushing Canadian crypto assets to the US

[34:00] How Alberta enabled Balance to become a regulated custodian

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Resources Mentioned:

Balance | Website

Block Rewards Bitcoin Savings Plan | Website

Learn more about George on his website and follow him on LinkedIn.

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