Never a good idea to remove bark whilst it's in log form. It's too big to dry evenly without cracking badly.
5 days shouldn't be too long to split it.
Split it with wedges at least into quarters. This will let you know if the tree has any propeller twist, or any other character that you need to account for, when laying out staves.
You can use the circular saw method to kerf the inner, pointy part of the quarters. Then use the kerf to split off these sections cleanly, with wedges.
Deal with the inner splits first, either seal the back area, or take it down to one growth ring, then seal it.