Terra buys $200M in AVAX for reserves as rival stablecoins emerge

The two main organizations behind the development of the Terra blockchain have purchased a combined $200M in AVAX, while Near Protocol is rumored to release a new stablecoin.
Source: Terra buys $200M in AVAX for reserves as rival stablecoins emerge (https://cointelegraph.com/news/terra-buys-200m-in-avax-for-reserves-as-rival-stablecoins-emerge)
Would appreciate your opinion about this