It is a simple yet not easy question to answer: why does bitcoin have value?
Bitcoin has value because it has both scarcity and utility. It is a limited and useful resource. It is important to note that something must be BOTH in order to command a market value, NOT either.
May be you should scratch that "scarcity" clause. I don't believe it's because Bitcoin has a little fixed total supply of 21million that gave it its price value. Nah! That isn't true. We have coins and tokens less than a million in total supply, yet their prices aren't even half of what Bitcoin price is. However, I agree with "utility" and use case of Bitcoin being a boost to its price. Need I add that what has helped Bitcoin this far is its status as the "Pathfinder" of this industry? Pathfinders always enjoy a sort of privilege 🤔