Falling Text Effect?

Hi I wanted to make this falling text effect that is seen in the matrix for the background in my game but I’m really stumped on how to actually do this.

The only possible way I could think to do this is have a sprites sheet of text slowly moving to one direction and then rotate it later on but I’m not sure if that is the best way possible as I am a little worried about performance because this is going on an Andriod.

Any ideas?

Another option might be to use several columns of 3DText (with characters placed vertically with newlines). Then just script it so each 3DText column moves down at a somewhat random rate with each character swapped out every .3 to .5 seconds or so. You could also make it so the bottom most character is white. Also would help to keep a pool of these 3DText columns for re-use.

Just not sure if this is optimal for android.