Static & Private Class Fields

What does making PRECISION private achieve?
class MathUtils {
  static #PRECISION = 2;
  
  static setRoundingPrecision(precision) {
    if (precision < 0 || precision > 20) {
      throw new Error('Invalid precision');
    }
    this.#PRECISION = precision;
  }
  
  static round(value) {
    return Number(value.toFixed(this.#PRECISION));
  }
}
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