PANews reported on September 2nd, according to GlobeNewswire, that biopharmaceutical company Propanc Biopharma (Nasdaq: PPCB) announced plans to acquire $100 million in Ethereum over the next 12 months. The company stated that this move aims to increase its cryptocurrency asset allocation and accelerate drug development and asset acquisitions. Propanc cited Ethereum's support for smart contracts and decentralized applications, its superior energy efficiency compared to Bitcoin, and its advantages in liquidity and global accessibility in asset tokenization. The company will primarily use the funds to hold Ethereum, with a portion allocated for drug development and IP acquisition.