PHP Parse error when trying to run composer self-update

[bajahranks]

I'm trying to update composer, however I'm running into the error below.
PHP Parse error: syntax error, unexpected 'class' (T_CLASS), expecting identifier (T_STRING) or varia ble (T_VARIABLE) or '{' or '$' in /vagrant/apphome/ vendor/drupal/core-composer-scaffold/Plugin.php on line 48

PHP version : 7.2.24
Composer version: 1.9

Is there a minimum php version that can be used?