No, it doesn't.
if(bts[i] == 0x01)
means if bts[i] is equal to 1.
if((bts[i] & 0x01) == 0x01)
means if the least significant bit of bts[i] is equal to 1.
Example.
bts[i] = 9 //1001 in binary
if(bts[i] == 0x01) //false
if((bts[i] & 0x01) == 0x01) //true