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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.
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.
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.
Your key to success! Discover our top recommendations from real testimonials.
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:
"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.
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.
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:
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.
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.
The problem: You are constantly readjusting.
The solution: Quarterly checks are sufficient.
Descartes advantage: Professional rebalancing without you having to do anything.
🎯 Do the barbell test:
Question 1: Can you cope with 10-30% depreciation without panicking?
Question 2: Is your investment horizon at least 5 years?
Question 3: Do you already have a diversified base (ETFs, funds)?
Question 4: Do you understand that Bitcoin does not pay dividends or interest?
Question 5: Would you sleep easy with 50% Bitcoin crash?
Evaluation:
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.
"Intelligent people learn from the mistakes of others".
We have compiled our top selection for you from all our tests and experience reports:
Included:
Minimum investment: CHF 10 (!)
Costs:
Additional effort:
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.
Based on the OLZ Smart Invest allocations. This is not investment advice.
For: Investors close to retirement
Expected return: 3-5% p.a.
Volatility: Low
For: Investors with a 10-15 year investment horizon
Expected return: 5-7% p.a.
Volatility: Moderate
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.
Taxes:
Bitcoin addition makes sense if you:
Bitcoin addition does not make sense if you:
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.
"Intelligent people learn from the mistakes of others".
We have compiled our top selection for you from all our tests and experience reports:
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.
Related articles:
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.
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.
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.
📌 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.
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.
Hello Mathias,
No, Descartes is not new - see Review 🙂