AS 1.9.4/DNN 6.1.0

Hi, we have a fresh install of AS and noticed that whenever we upload animated .gifs, they are converted to PNGs even if we have the "do not convert images" option set.  When we change the setting to JPG, they are converted to JPGs though.  Are we missing something?  The only reason we would ever use animated GIFs is for user profile images, as users tend to like those things.  Thanks.