If your certainty about him being a Ponzi is anything less than 100% (and you said it was 98% last time I asked you), it isn't necessarily illogical to hedge. To be really simplistic about it, you think that there's a 1/50 chance you'll lose 5000 btc and and a 49/50 chance you'll get 10000. Simple expected value will value your "bet portfolio" at 9700 btc at maturity, but your one-year 2% value at risk is 0. Both of those could improve, depending on your model of his default probabilities over time, if you were willing to hedge 
I could imagine some other considerations. One is that the time spent to do the hedging might be better spent on something more profitable. Then there is the weird problem that some simple-minded victims might get angry when somebody takes and spends the money they have just been robbed of, without any risk to himself.