I agree with you, while the total amount of mined bitcoins will eventually reach 21m, it doesn't mean that the world has full access to all these 21m. Due to theft and people losing access to their wallets the number of available bitcoins will be lower. That shouldn't be a big concern right now though. You could argue that the price should be higher, but that's just a matter of time.  The finite numbers of Bitcoins is what will make the price rise over time. As long as new bitcoins are being mined there exists a minimum price for bitcoins, given by the energy and running cost of miners. We are of course well above that price. So the rise in mining cost together with the halving means that prices have to rise more and more. At the moment its hard to say what the real price is, because the world is facing such uncertain times.