Bitfinex has announced that the BFX token-to-equity conversion ratio is changing on April 1, 2017.
Until midnight UTC on March 31, 2017, users can convert BFX tokens to equity at a conversion ratio of 1 BFX token to 1 share. After March 31, 2017, that ratio will change to 1 BFX token to 0.8 shares, reflecting an increase in the company’s valuation.
With over 44 million BFX tokens already converted into equity, Bitfinex is well on its way to full recovery. They have seen very strong operating results in the last several months. March 2017 is already shaping up to be a record month for their stakeholders, RapFlag among them. Furthermore, Bitfinex expects to retire the last BFX token before the one-year anniversary of the August 2nd attack.
This will result in a discrete revaluation of RapFlag’s Bitfinex shares from $1 to $1.25 per share at the end-of-day on March 31st.