I might be getting this wrong but supposeably jpeg is a type of bitmap image but what I was referring to is that I had to convert the jpeg image I was trying to trace to BMP format.
So when I researched a proper answer for you, I may be revealing more of what I don’t know.
Copied from: What is a Bitmap? | Webopedia
A bitmap is a file format or memory organization of rows and columns of bits (or pixels) that collectively display a graphical representation. Most graphic images contain thousands of bits.