WWE paid tribute to Hulk Hogan with a 10-bell salute and a video package on the July 25 episode of SmackDown. Eric Bischoff, the wrestling icon's long-time friend and former boss in WCW, believes The Hulkster deserves to receive a unique honor following his death.Hogan, real name Terry Bollea, passed away on July 24 after suffering a cardiac arrest at his house in Clearwater, Florida. In recent months, the former WCW and WWE star had been preparing to launch the Real American Freestyle (RAF) wrestling league alongside Bischoff.On the 83 Weeks podcast, a fan asked whether WWE should create a Lifetime Achievement award for Hogan. Bischoff agreed with the suggestion and revealed he had already planned to pitch the idea:"I know a guy who knows a guy that's gonna be sending a text to that effect. That's a great idea. And yes, I would love to see that for the reason we were just talking about. Who else can say, or who can we look to who's no longer here, that had such an amazing impact on the industry that we all love today that millions of people around the world are watching today." [42:53 – 43:22]Hogan is already a two-time WWE Hall of Famer. He received his first induction as an individual in 2005 before earning a second induction as part of the 2020 class alongside the nWo.Eric Bischoff discusses Hulk Hogan's iconic careerIn the 1980s, Vince McMahon presented Hulk Hogan as WWE's top babyface attraction during the early years of WrestleMania. The Hulkster later joined the Eric Bischoff-led WCW, where he famously turned heel at Bash at the Beach 1996.Reflecting on Hulk Hogan's career, Bischoff explained why his friend is worthy of a recognition higher than his two WWE Hall of Fame inductions:"There's only one guy that was in both places. Back in the '80s, when Hulk and Vince launched WWF [WWE] together, in many ways, and of course in WCW with the nWo, so I think that's a hell of a lifetime achievement. I don't think anybody else will ever come close, so, yeah, I'm gonna be texting my guy that knows a guy that knows a guy." [43:22 – 43:43]Bischoff also reacted to WWE and Triple H's tributes to Hogan on the latest SmackDown episode.Please credit 83 Weeks and give an H/T to Sportskeeda Wrestling for the transcription if you use quotes from this article.