85% of All Bitcoin Have Been Mined: Does Scarcity Create Value?

Despite the fact that Bitcoin is 50% down from its all-time high of $20,000, the project has continued to set milestones.
As noted by countless cryptocurrency Twitter users on Wednesday, the number of Bitcoin that has been mined has officially surmounted 17,850,000. This means that 85% of BTC’s 21 million supply cap has been spent.
85% of 21 Million Bitcoin Now Mined
For some reason or another, Satoshi Nakamoto, the pseudonymous coder (or group of coders) behind Bitcoin, decided to place a