The crypto craze doesn't show any signs of slowing down, and some investors are more keen on buying into digital currency than others. In this segment of Backstage Pass, recorded on Oct. 27, Fool contributors Rachel Warren, Brian Withers, and Trevor Jennewine discuss an imaginary universe where they could create their very own crypto mascot.
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Rachel Warren: We have about five minutes left. We're going to move on to our fun final question. I saw this story on the news earlier today and I thought it would be a fun and foolish one to cover for the last question of the show.
If you guys remember Dogecoin (DOGE 2.86%), the cryptocurrency with the image of a dog that was originally created as a joke and somehow became one of the hot investments of 2021. A lot of Reddit traders loved this one. Well apparently there's a new kid on the block, Shiba Inu (SHIB 2.24%).
The crypto has a market cap just shy of $30 billion and is now among the top 15 largest cryptos out there. It recently hit a new all-time high. Shiba Inu has popped more than 45% in just two days. You think about Dogecoin with it's well-known mascot of a dog and now there's Shiba Inu, with the image of a Shiba Inu dog.
If you were to start your own cryptocurrency, what would your brand mascot be? Brian, do you want to go first on this one? [laughs]
Brian Withers: I love this question. I'm glad you didn't ask about whether I was interested in investing in cryptocurrency. [laughs] That I'm not.
Rachel Warren: No, I knew better than that. [laughs].
Brian Withers: But hey, I'll come up with a mascot for my cryptocurrency. I'm trying to avoid the animal thing, these dogs, I don't know about that, but thinking about you want a currency that's global and accepted all around the world. What is something that is known around the world?
Maybe a soccer ball. In other countries they call it football. Or maybe fast and agile, you could do a Formula 1 car. Trying to get the global fast fund vibe going. What about you Trev?
Trevor Jennewine: I'm going to infringe on Tesla's (TSLA 11.00%) intellectual property and say Tesla coin. [laughs] I'd be willing to share this idea with Tesla. But I think that company, from what I understand, their merchandise flies off the rack. Elon Musk boring companies look to flame throwers. It seems like they can sell anything and so I think put the Tesla logo on a coin and I think it would do well.
Rachel Warren: Wow, that is so fun. I feel like you should pitch that to them, Trevor. [laughs] I was thinking about this and I mean, I hate to not be original and go with an animal. But I feel if I were to create my own personal crypto mascot, it would be a bunny because, I never had dogs or cats growing up.
I always had rabbits. I feel like I don't know, maybe an homage to one of my little rabbits that I had when I was a kid would be a very adorable crypto, but I don't honestly know that anyone would buy it. [laughs] But I think it sounds fabulous.
Brian Withers: It's warm and fuzzy. You got to like it. [laughs]
Rachel Warren: It's warm and fuzzy. These are good times. But yeah, crypto, Dogecoin, not sure how much of a good investment it is, but it is so much fun to talk about.