Bitcoin's price surged to $111,970 in May 2025 following the April halving event, which reduced mining rewards by half. This rally contributed to the creation of approximately 26,700 new Bitcoin millionaires in the first half of 2025, raising the total number of wallets holding over $1 million in Bitcoin to 182,327. The growth in Bitcoin wealth has been noted amid ongoing debates about the cryptocurrency's valuation. With a fixed supply capped at 21 million coins and a global population of 8.2 billion, the scarcity of Bitcoin relative to the roughly 70 million millionaires worldwide highlights the potential for further price appreciation. Long-term holders have benefited significantly from this bull run, as the accumulation of Bitcoin continues quietly despite public skepticism.