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The barbell strategy for Swiss private investors: how to use Bitcoin intelligently as an add-on

Ignore Bitcoin or go all-in? Both extremes feel wrong for most Swiss private investors. The figures speak for themselves: in the last eleven years, Bitcoin has been the best asset class in eight years - and the worst in the remaining three. Some may miss out on this historic asset opportunity, while others risk their assets in a highly volatile market.

But there is a third way: the barbell strategy. This combines a stable basis with a small, strategic addition of Bitcoin. The asset manager Descartes from Zurich utilises this scientifically sound approach and shows how modern portfolio theory solves the Bitcoin dilemma.

Table of contents

What is the barbell strategy and why is it so brilliant?

The barbell strategy works like a dumbbell: A large, stable part (80-95%) combined with a small, asymmetrical admixture (5-20%). At Descartes In concrete terms, this means: a risk-optimised basis with the OLZ funds plus a strategic Bitcoin addition of a maximum of 5%.

The maths behind it is astounding: A 5% Bitcoin addition can significantly increase overall returns while keeping the additional risk surprisingly low. Why? Because the risk-optimised basis intelligently uses the "freed-up" risk budget for Bitcoin.

The question many people are asking: "Isn't this just marketing talk?" The answer is provided by the data from Descartes and OLZ, which impressively show how different market phases can complement each other.

Bitcoin barbell strategy

The three faces of the market: why small blends work in the long term

Instead of looking at individual years, it is worth taking a look at different market phases. The OLZ analysis shows three typical scenarios:

Crisis year 2022: Bitcoin loses heavily (-71%), but the risk-optimised equity strategy partially absorbs the losses. The overall portfolio suffers less than pure Bitcoin investments.

Bull year 2024: Bitcoin explodes (+140%), while traditional equity strategies weaken. The addition of Bitcoin compensates for the underperformance.

Volatile year 2025: OLZ risk optimisation protects during downturns, Bitcoin helps with the rebound. Best of both worlds.

The secret: Everything is never bad or good at the same time. The barbell strategy utilises this natural compensation.

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Swiss practice: How to implement the barbell strategy

Descartes: The scientific approach

Descartes Finance is distinguished by its Scientifically sound approach. Instead of simply offering Bitcoin as an option, the Zurich-based company is systematically integrating the cryptocurrency into its strategic asset allocation - based on OLZ's proven risk optimisation.

Concrete realisation with Descartes:

  • Share quota 95%: Bitcoin admixture 5%
  • Share quota 60%: Bitcoin admixture 3%
  • Share quota 20%: Bitcoin admixture 1%

"This staggered approach shows that Bitcoin is not a sure-fire success, but is used in a measured way," explains CEO Adriano Lucatelli.

Important note: The Bitcoin admixture is Descartes only possible in combination with the minimum risk strategy, but not with the index strategy. And only in free assets. A Bitcoin ETP cannot currently be added to most foundations as part of pillar 3a and vested benefits. As soon as a Bitcoin ETF is authorised in Switzerland, Descartes will also offer Bitcoin in pension provision.

ETP vs ETF: The practical solution for Swiss investors

While Bitcoin ETFs are booming in the USA, Descartes is focussing on ETPs (exchange-traded products). There are still no pure Bitcoin ETFs in Switzerland. Descartes therefore uses ETPs from 21Shares, the world's largest issuer of crypto ETPs and a trusted partner.

The 21Shares Bitcoin Core ETP is physically collateralised at 100% and held in cold storage - maximum security without technical headaches.

In general, as with all ETPs, there is a certain issuer risk - even if 21Shares as a provider pursues high security standards.

Psychology: your biggest enemy when investing in Bitcoin

First of all: The biggest danger is not market crashes, but your own emotions. Here are the most common psychological traps and how to avoid them:

Trap 1: FOMO (Fear of Missing Out)

The problem: Bitcoin rises 50% in one month. You want to buy more.

The solution: Strict 5% rule. More is speculation, not strategy.

Descartes advantage: Automatic rebalancing prevents wrong emotional decisions.

Trap 2: Panic selling

The problem: Bitcoin falls 30%. You want to sell everything.

The solution: "Digital gold" mentality. Bitcoin is a store of value, not a trading instrument.

Concrete recommendation for action: Close the app in case of panic, do not check the portfolio. Stick to a long-term strategy.

Trap 3: Constant rebalancing

The problem: You are constantly readjusting.

The solution: Quarterly checks are sufficient.

Descartes advantage: Professional rebalancing without you having to do anything.

Decision support: Is Bitcoin blending right for you?

🎯 Do the barbell test:

Question 1: Can you cope with 10-30% depreciation without panicking?

  • Yes = +1 point
  • No = 0 points

Question 2: Is your investment horizon at least 5 years?

  • Yes = +1 point
  • No = 0 points

Question 3: Do you already have a diversified base (ETFs, funds)?

  • Yes = +1 point
  • No = 0 points

Question 4: Do you understand that Bitcoin does not pay dividends or interest?

  • Yes = +1 point
  • No = 0 points

Question 5: Would you sleep easy with 50% Bitcoin crash?

  • Yes = +1 point
  • No = 0 points

Evaluation:

  • 4-5 points: Bitcoin admixture very well suited
  • 2-3 points: With caution, maximum 2-3%
  • 0-1 points: First financial education, then Bitcoin

Regardless of the test result: The barbell strategy makes Bitcoin accessible to almost all investors. Even cautious investors can benefit from the long-term development with 1-2% Bitcoin without jeopardising their portfolio. Descartes' scientifically sound approach relieves you of the emotional decisions and ensures professional rebalancing.

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Cost transparency: Descartes vs. DIY approach

Descartes all-in fees: 0.88% - 1.00%

Included:

  • Asset management
  • Automatic rebalancing
  • Tax statement
  • Bitcoin integration without technical hurdles
  • Personal counselling if required

Minimum investment: CHF 10 (!)

DIY alternative: do it yourself with an online broker

Costs:

  • Online broker: Custody account fees + order fees vary greatly
  • 21Shares Bitcoin ETP: 0.25% p.a.
  • Rebalancing: Additional transaction costs for each adjustment
  • Total: Difficult to calculate as strongly dependent on utilisation

Additional effort:

  • Own time expenditure for rebalancing and monitoring
  • Organise tax reporting yourself
  • Emotional stress during market turbulence

Conclusion: Descartes relieves you of the operational effort and offers planning security in terms of costs. Whether DIY is financially worthwhile depends heavily on your investment volume and trading behaviour.

Sample portfolios: three ways to integrate Bitcoin

Based on the OLZ Smart Invest allocations. This is not investment advice.

Portfolio 1: The cautious one (20% shares, 1% Bitcoin)

For: Investors close to retirement

Expected return: 3-5% p.a.

Volatility: Low

Portfolio 2: The Balanced (60% Equities, 3% Bitcoin)

For: Investors with a 10-15 year investment horizon

Expected return: 5-7% p.a.

Volatility: Moderate

Portfolio 3: The growth-oriented (95% shares, 5% Bitcoin)

For: Young investors with a 15+ year horizon

Expected return: 7-9% p.a.

Volatility: High, but controlled

The precise asset allocation is carried out via the tried-and-tested OLZ funds with risk-optimised diversification.

Swiss specialities: What you need to know

Taxes:

  • Bitcoin profits are for private investors tax-free
  • Property tax is payable on Bitcoin holdings (as with all assets)
  • Descartes automatically provides all the necessary tax documents for the tax return

The honest conclusion: when bitcoin blending makes sense

Bitcoin addition makes sense if you:

  • invest for the long term (5+ years)
  • already have a diversified base
  • risk a maximum of 5% of the portfolio
  • Can cope with volatility emotionally

Bitcoin addition does not make sense if you:

  • expect quick profits
  • want to invest more than 10% in Bitcoin
  • panic at losses
  • Do not understand Bitcoin

Alternative: For investors who want more control over their Bitcoin allocation, the DIY approach with an online broker remains an option - albeit with correspondingly higher costs.

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Conclusion: use Bitcoin intelligently instead of speculating

Bitcoin doesn't have to be an all-or-nothing game. The Barbell strategy shows how you can capitalise on Bitcoin's long-term potential without putting your wealth at risk. Bitcoin was the best asset class in eight out of eleven years - but also the worst in three years.

Descartes makes this scientifically sound approach accessible to Swiss private investors. From CHF 10, you can benefit from intelligent Bitcoin integration, while professional rebalancing and automatic tax reporting take the operational burden off your shoulders.

The barbell strategy is not suitable for everyone - but for investors with a long-term horizon and a willingness for controlled volatility, it can be the missing piece of the puzzle in the portfolio. Bitcoin is growing up. Your investment strategy should be too.

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Community feedback on the Barbell strategy: what the analysis shows

The reactions to Bitcoin integrations in the Swiss financial world show: Investors don't want crypto evangelists, they want solid, scientifically sound financial planning.

Most common concerns with bitcoin blending:
❓ "Is this just marketing or real added value?"
💬 Analysis: Real added value through professional rebalancing and systematic integration. OLZ's figures show measurable improvements in risk-adjusted returns.

❓ "Why not buy Bitcoin directly?"
💬 Analysis: Direct purchase is not suitable for everyone. For long-term wealth creation, integration into an overall strategy is more scientifically sound.

❓ "What happens in the event of a Bitcoin crash?"
💬 Analysis: With 5% added, the portfolio loses a maximum of 2-3% of the total value - provided other positions remain stable. At 100% Bitcoin, there is a risk of total loss.

FAQ

Account opening online in 10 minutes, investment possible from CHF 10.

Yes, 100% physically collateralised via 21Shares ETP in cold storage.

No, Bitcoin is automatically dosed according to the risk profile (1-5%).


Special asset protection: Your assets are with UBS/Vontobel, not with Descartes.

Not yet for Descartes. Integration is planned as soon as appropriate solutions are available.

Financial author Eric Marschall certified investment advisor (IAF) independent financial expert Switzerland - certified financial expert switzerland
About the author

Eric is the founder of Schwiizerfranke.com and certified IAF wealth advisor. Since 2019, he has been helping Swiss citizens to organise their finances comprehensibly, independently and efficiently.

More about Eric & Schwiizerfranke

📌 Note: This article is for information purposes only and does not constitute personalised investment advice.

Disclaimer: This is a sponsored post in collaboration with Descartes Finance. All content is editorially independent and reflects my honest judgement. The information provided does not constitute investment advice - consult a qualified financial advisor if necessary.

2 responses

  1. Thanks for the contribution!
    I spent a long time looking for a strategy to intelligently add BTC to my portfolio.
    That sounds sensible to me. Do it yourself? IDK!
    Descartes is new, isn't he? I didn't know it.

    Reply
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