In case you are wondering how much HIVE we can convert to HBD, here are the numbers for HBD to HIVE conversions in the past. This might be considered as the potential, although it doesnt need to means nothing as in the end its all up to the markets.
This is from an old post of mine. Up until 2020 there was a total of 66M HIVE (the biggest share of the inflation) created from HBD conversions. A 24M in 2020 alone. For reminer HIVE supply is around 370M these days. We have converted around 20M in the last period to HBD. So if we want to reach HBD conversions neutral we will need to put another 40M, reducing the HIVE supply to around 330M.