Hi Klotho,
As long as the SP is greater than 5c then the options will be converted. There isn't any reason why someone would let the BITOB that they hold expire when they could convert for 5c and then sell on market for more.
At this point in time nothing would need to be done to encourage conversions.
Options being converted wont provide any surges in SP. However I wouod expect a more clear announcement from BIT on what they plan to do with the money when it is in their account. Even though extremely unlikely there is still the very very small chance options dont get converted (BIT<4c) so they have to be vague.
Cheers
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