It depends on your vision of 'the case for bitcoin'. To me, it is absolutely the case. You collateralize your debt with bitcoin, to buy more bitcoin. Using your pet rocks to create more pet rocks, creates more scarcity, price goes up. It is a perfect circle. Saylor is a genius to see that, but he isn't the only one.
The problem though is that long term, I'd argue that ETH is playing this game a lot better. If you can mentally get past the DAO failure and whatever other drama, programmable money, is the absolute future, especially since they solved the energy usage issue, and soon the scaling issues.