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Heat oven to 350°F.
Whisk the butter, parsley and garlic powder in a large bowl.
Cut each biscuit into quarters.
Coat a fourth of the biscuit pieces in the butter mixture.
Place pieces into an ungreased 10-inch fluted tube pan.
Sprinkle with 1 cup pizza cheese and ⅓ cup pepperoni.
Repeat layers three times, starting with coating biscuit pieces in butter mixture.
Bake, covered, for 30 minutes.
Uncover; bake for 20-25 minutes longer or until golden brown.
Let stand for 5 minutes.
Gently run a knife around edges of pan to loosen if necessary.
Invert bread onto a serving platter.
Garnish with parsley.