To keep it fresh
No. Roots wrapped in plastic bag cannot absorb water.
The freshly-baked bread contains a lot of moisture. If the bread is to wrapped very soon after baking, the holes are made in order to allow the moisture to decrease without leaving the bread soggy. Those companies that wrap the bread in bags without holes, have allowed it to cool off first.
It is a bag (usually plastic, nowadays) that is the outer covering of a sliced or unsliced loaf.
Bread will get moldy whether bagged or not. If moist bread is contained in a plastic bag, the moisture would promote mold growth. Bread left open in a dry room would lose moisture, creating a dryer surface that would slow mold growth.
It goes mouldy. Then you throw it away.
Toasted bread does not spoil! it molds!
If it is store-bought bread, keep it in the bag you bought it in and store in a room-temperature environment. If it is home-made bread, put it in a plastic bag and store in a cupboard until ready to eat!
In the plastic bag - warmth and humidity will speed up the growth of mold
They will get cold.
it takes 5 days to completely rot
Mould will grow faster in a plastic bag if it's not kept refrigerated. If it's left in a paper bag, it will firstly go crusty, then mouldy but the plastic bag option will make it go mouldy faster because of the condensation which is produced. I work in a bakery.
I find bread goes mouldy in about a week if left in its plastic bag - but that's in an English climate.