As far as I'm concerned a belt is just something that holds your pants up. It might not be that way to everyone though - maybe he's hanging it up on his wall at home and using it for inspiration. Maybe he's giving it to a friend that lost theirs. If it bothers you that much, just ask him. I, personally, don't see what the big deal is, as long as he's not wearing it to class or trying to act like a bigshot.
"I don't want them to like me, because when I'm in the ring, punches fly to the face. It is not a tenderness time. I am not falling in love. And he knows that when the fight starts I am kicking faces."
- Wanderlei Silva