So why DOES he dedicate so much time to something he doesn't believe in?
I spent on bitcoin about as much time as I spent following the cold fusion saga, in the late 1980s, which I did not believe in either. Why is that strange? There are people who devote a lot more time studying scams and religions that they don't believe in. There are people who know all Start Trek episodes by heart, and of course they don't believe in them either.
I myself spent a lot more time studying the Voynich manuscript. Unlike many of my voynichologist colleagues, I do not think that it contains anything important (but i am convinced that it is not random text, either).