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Minimum Versioning Coming Soon
In Office 365 Message Center MC146556, Microsoft announced today how organizations can avoid using the new minimum of one hundred versions for files stored in SharePoint Online and OneDrive for Business libraries.
The new feature comes into effect on September 30, 2018. Before then, if you want to avoid using the feature, you must download and install the latest version of the PowerShell module for SharePoint Online (make sure that you have version 16.0.7918.1200 or better). After updating the module, run the command:
Set-SPOTenant -EnableMinimumVersionRequirement $False
If you don’t do this before September 30, Microsoft will enable minimum versioning for all SharePoint Online and OneDrive for Business libraries. To configure versioning for a site, access the library settings page for a document library (Figure 1) and set the value for major versions to anything between 100 and 50,000.

Customer Pushback
Microsoft originally announced that this feature would be enabled for all sites, but they obviously received some pushback from customers who don’t want to keep so many versions. This might have been an acceptable position in the on-premises world when you’d be worried about the storage consumed to keep so many versions, but it really doesn’t make much sense in the cloud. The storage used to keep versions is not charged against your tenant quota and Microsoft takes care of providing the physical storage that’s needed.
AutoSave and Restore Need Versions
Another reason why minimum versioning is a good thing to have is that features like AutoSave of Office documents (needed for co-authoring) and the ability of OneDrive and SharePoint Online to restore files to a point in time within the last 30 days depend on versions being available. If you don’t have the versions, you can’t recover files.
For more information about SharePoint Online and OneDrive for Business, see Chapter 8 in Office 365 for IT Pros.
To bad you can’t set spo tenant to True and put 100 that way all sites come with a limit of 100 versions instead of 500.