It’s arbitrary, it’s just how we defined degrees. We could have 100-degree circles, but that would be kind of annoying because it wouldn’t evenly divide into thirds or sixths like 360 does. 360 divides evenly into 2, 3, 4, 5, 6, 8, 9, 10, 12, making it very convenient for a lot of calculations.
This is, incidentally, the same reason why we have 12 hour clocks instead of 10 hour clocks (and both have a related historical origin.)
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