Jesus.... (pun intended)

But jokes aside there is actually a real grain of truth to the story though nowhere near as flamboyant as this. Before the advent of mass-printing such as what was made possible with the Printing Press the whole concept of a "Family Bible" that was handed down through the generations was a very real thing. These books were considered heirlooms and indeed many of them were considered extremely valuable and faith required that it be kept in the utmost condition. Book repair and duplication was big business, even the poorest families would not scrimp on restoration and repair if it needed to be done. Bibles were rarely destroyed in their entirety as the paper they were written on was valuable in it's own right. We have examples of historians using imaging technology to show that there are some texts that were previously used for other writings and bleached over. Damaged paper can be cut to a smaller size and re-used in smaller books.

The only time a bible would be completely destroyed without being recycled was when an error in the word was considered to be particularly heinous, look at the Wicked Bible https://en.wikipedia.org/wiki/Wicked_Bible for an example of this when a print run accidentally omitted the word not from the commandment "Though shalt not commit adultery". Suffice to say all copies of this print was ordered to be hunted down and utterly destroyed because of it. The few that survived to today are now valuable collectors items and museum pieces.