To get an idea of the strength you can hope, the WLL of the standard stock iron is 8kg/mm², or around 11.000 pounds per square inch. You can obtain two or tree time this with the hight strength steels in some hight load bolds. But I don't think you need that; 2" stock rod can handle over 36K pound.
Now, look at the wood's strength :it's a lot less. For example, oak's WLL is around 1kg/mm², or only 4600 pounds on the 2" rod without showing any damage in the wood. There's a good security's margin, but after that, the steel begins to sink in the wood, crushing his structure.
Why not just thinking at your bold as only a center pin, instead of an adjustable rod doing a jack's job?
The trunk stands on the top of the prop, and the pin is only here to avoid side way movements. Much less stress on the pin (and on the wood).