According to an article published by Böhme, Christian, Edelman, and Moore in the Journal of Economic Perspectives about Bitcoin, I abstracted this from there

The central design principle Bitcoin is based on is the concept of scarcity. Many economists state, and I agree, that virtual currencies, which Bitcoin facilitates, should be considered as any other form of money since that is not the form that determines money – that is its functions that do. And virtual currencies perform all functions that any other forms of money perform; they serve “as a means of exchange, as a store of value, and as a unit of account” (Böhme et al., Bitcoin: Working Paper 1). Similarly, just like any other form of money, virtual currencies should be considered in terms of scarcity.

Scarcity is what (at least partly) provides money with its value. First of all, it prevents the emergence of counterfeits since it does not let creating money ad-lib (Böhme et al., Bitcoin: Working Paper 1). Second of all, if thinking more broadly, it also sets strict boundaries for the increase in the monetary base and maintains and guarantees the price stability (Böhme et al., “Bitcoin: Economics, Technology, and Governance” 215). The authors prove the scarcity of money while talking about different sources of it.

For example, precious metals are scarce since a limited amount of those exists in nature. The scarcity of paper money is caused and ensured by unequal access to technology, and the scarcity of book money, in its turn, is regulated by legal rules. Admittedly, the scarcity of money is not absolute. As proof, an amount of precious metals is limited, but no one knows how much of those exactly exist in nature. Besides, people have always tried to overcome scarcity, with alchemy, for example.

Nevertheless, scarcity still does its job, which lies at the very core of the Bitcoin system. Due to its verification systems and underlying math, Bitcoin ensures that its currency is scarce and that significantly increases its use and popularity