That is indeed a perfectly acceptable example of the bitmap image format developed by Steve Wilhite in 1987 that supports up to to 8 bits per pixel for each image, allowing a single image to reference its own palette of up to 256 different colors chosen from the 24-bit RGB color space, and also supporting basic animation via the ability to paint various images (frames) in the file with time delays, forming a silent video clip.
Epileptics should be very careful to view this particular gif, as it may induce seizures!