Is it okay to keep him as an acquaintance rather than as a close friend?

I think recently my friend turned acquaintance is trying to win me back as a friend, by being extra helpful with advice, wanting to meet up in the western suburbs with my friends, where he wouldn't have been seen dead a few weeks ago when we were friends, because my rich friends don't like the area where I live, messaging me when he's with his girlfriend and I've deliberately avoided being talkative then, to give them time alone and just being extra nice and helpful and supportive. Wanting to catch up and talk a lot more than usual and go out and do more things.

I am generally a kindhearted sort of person who likes to believe the best in others. It's all the other stuff that's gone on, not the fact that he has a girlfriend if that's even true. Is it okay not to accept him back as a friend and just stay acquaintances? The final straw for me was when he wouldn't visit my house because he said his girlfriend doesn't trust us to be alone together and he wasn't prepared to stand up for me. I took offence to that and one of my other guy friends swore when I told him about this. I don't dislike him or consider him an enemy, he can be very nice when he wants to be, it's just that the times he wasn't nice, I found really toxic for my wellbeing.

Is it okay to keep him as an acquaintance rather than as a close friend?
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