Bitcoin's supply cap of 21 million coins significantly impacts its long-term value. This hard limit, enforced by its protocol, creates scarcity, a key driver of value in economic theory. As demand grows—fueled by adoption, institutional interest, and global economic uncertainty—limited supply can drive price appreciation, assuming demand outpaces issuance. However, the halving events, which reduce new coin issuance every four years, gradually slow supply growth, potentially amplifying scarcity effects over time. Critics argue that if demand stagnates or alternative cryptocurrencies gain traction, the cap's impact could weaken. Additionally, lost coins (estimated at 3-4 million) effectively reduce circulating supply, further tightening availability. While the cap fosters a deflationary narrative, its actual influence depends on sustained demand, market dynamics, and macroeconomic factors, making Bitcoin's long-term value both promising and uncertain.