Well, you wouln'd be the first guy in history to have a male friend suddenly appear to be gay and try to hit on him. He may just have been bisexual for a while, and now wants to explore men.
I don't know what to say to help guide you through this, except that if he's going to act like that, he's not much of a friend (disregarding the whole "is he hitting on me" thing). Just ask him flat-out why it seems like he's being an ass to you. Let him explain himself. Tell him you appreciate the stuff he buys you, but it doesn't make up for his behavior. It might be a hard conversation to have, but you're pretty much at a wall at this point. It either continues, or you bite the bullet and have a talk about it.
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