No it's not true.
Firstly, the bible is a book. There is no proof of god's (deliberate lower case) existance, so the book is fictional. As such it contains no more objective 'truth' than Alice in Wonderland, 1984 or any Mills and Boon offering.
If you want to disregard the fact that it is just another book you could accept that as the "word of god" it must be 'true' (as god is perfect, therefore all his words and actions are perfect) - interesting then that this commandment came ahead of exhortations not to murder, steal or commit adultery. But ,accepting this, you should also be prepared to defile young virgins, commit child abuse and engage in genocide (all actions committed or encouraged by god in various parts of the bible). We'd probably all accept that to conduct ourselves in this manner would not encourage a caring, empathic and secure society so would not advocate labelling these as desirable (or 'true') traits.