French star Wembanyama put up 42 points with 18 rebounds and four blocks for the Spurs but Bridges took the glory with a brilliant 15-point fourth-quarter display that left him with a season-high 41 points and the win.
"It was great, man. I think just to feel the excitement from the crowd, my teammates, my coaches, this is who I play for," Bridges told broadcaster ABC.
"They give me the energy, give me the confidence to go out there and play," he added.
Wembanyama was just three points short of the Christmas debut scoring record of 45 set by Wilt Chamberlain in his rookie season in 1959.
The 20-year-old, who stands 7-foot-3 (2.21m), was 16-31 on shooting and made six of 16 three-point throws and while Bridges took the applause from the home crowd, he was quick to praise the Frenchman.
"From 40 feet out, from right under the rim, from 15 feet out, he's just unbelievable, just to see what he's doing, credit to him and how much work he has put in," said Bridges.
The 28-year-old Bridges, who was traded from the Brooklyn Nets in July, shot 17-25 from the field and was six for nine on three-point attempts as his team improved to 20-10.
San Antonio were just a point behind with two minutes remaining before Bridges made back-to-back jumpers to open up a five-point lead.
Josh Hart came up big for New York at the death, grabbing two misses to ensure the win and leave the Spurs on a 15-15 record.
Karl-Anthony Towns with 21 points and Jalen Brunson with 20 points and nine assists were crucial for the Knicks in the win.
Jeremy Sochan supported Wembanyama with 21 points for the Spurs.
The Christmas Day program continues with a rematch of last year's Western Conference finals between the Minnesota Timberwolves and the Dallas Mavericks.
Defending NBA champions the Boston Celtics host the Philadelphia 76ers while LeBron James renews his rivalry with Steph Curry when the Los Angeles Lakers are at the Golden State Warriors.
