Installing Windows 8.1 into a (QEMU Copy-On-Write) disk image is a popular way to run the legacy OS in virtualization environments like KVM/QEMU , Proxmox , or GNOME Boxes .
-o preallocation=metadata when creating.performance.Check the converted image:
From a VMDK (VMware):
qemu-img create -f qcow2 -b /var/lib/libvirt/images/win8.1.qcow2 /var/lib/libvirt/images/win8.1-snap1.qcow2
qemu-img utility (part of QEMU)