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Bitcoin's scarcity is even more profound than its total supply suggests. It is estimated that between 2 to 3 million Bitcoins are permanently lost forever due to forgotten passwords, lost wallets, or early mistakes by users. This means that the effective circulating supply could be closer to 18 million coins, making Bitcoin even rarer.
From an economic perspective, repeated scarcity coupled with increasing demand can drive up value. As supply remains fixed while demand continues to grow, basic economic principles indicate that Bitcoin could become more valuable over time. This rising scarcity has attracted institutional investors, public companies, and governments, all of whom recognize Bitcoin's potential as a store of value and a global asset.