I would think that a hardfork would set a price and it would depend on the market when they sold.
I can't see converting it all at once, maybe a powerdown's worth at a time.
I would like to see some of it powered up and put behind cheetah and hivewatchers/cleaners.
RE: Some information about the Hive(previously steem) proposal system/sps/steem.dao/hive development fund/hdf