This is really, really dumb and pointless. In fact it makes absolutely no sense, it tells password_hash to use a bcrypted "MySalt" as a salt.
Not only is there no reason to explicitly provide a salt unless you already have bcrypted passwords in a non-standard format, (in which case you'd pass the existing $salt directly, you wouldn't bcrypt it) this is an inane way to generate one.
If you want to generate your salt by hand, don't do it. If you really, really, really want to, use mcrypt_create_iv.