With a high enough telekinesis skill, it's possible to steal the bloodstone before triggering the cutscene with the Conduit. The cutscene paralysis is triggered by moving too close to the altar and if the bloodstone is moved beyond this area, it can be picked up without being paralyzed. After picking it up, the bloodstone can be used just like any other stone as long as you place it on the skillbar (there is no 'use' option in the right-click context menu). Using it will unlock a room at the homestead. This theft is not acknowledged by the game and the Conduit will run away with the inert stone.