Using TicksPerQuarterNote > 960

I have been using 960 for a long time because it seems to be the value that everyone is using.
Does anybody know if there is a reason for this specific value? Is it because its prime factors are 2^6 × 3 × 5 allowing for an exact representation of triplets, quintuplets and “256th notes” ? Does it limit the time of a MIDI file? Would it be safe to increase this value?

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