You need to split that log A.S.A.P! If you leave it in the round, it will split and crack terribly within days. Use an old axe and/or some (wooden or metal) wedges to split the log lengthwise, along the pith. The best wood will come from the right side, as in the picture. The left halve will have a huge knot at that kink; this halve is probably not useable, but that's hard to judge from here, when the log isn't split. Luckily, that knot will be in the handle area, so you can leave this stiff.