I cut it severely and pruned the roots. Planted it into akadama and some grit together with sphagnum moss, the mixture I use in general with different ratios (I am not sure yet what I am doing) for all bonsai plants I grow.
It is not so visible in the photo but there is some movement in the trunk. Lots of new growth appeared just 2 weeks after being completely balded. Everything green (except the part of trunk) is new growth.