No it isn’t. Ok sure, there are only so many bitcoins that can be mined. But - there’s 50k alt currencies that have fallen out of the sky, most also with scarcity. Why are they worthless while bitcoin holds value?. In fact the scarcity in cryptocurrency isn’t the tokens at all rather the collective expendable income of gullible users. They’re for the most part running a net loss, and even those ahead on paper need to go through a regulated exchange for a payout with all the questions that come with that giant pile of money.