It's actually not a true aquatic plant, nor is it true bamboo. It's a member of the Dracena family. It usually does ok, and sometimes even grows a bit, but eventually it usually starts to melt. That usually takes a few months though, so you can always use it for a time, then pull it into a vase or something where it can come up out of the water. Remove algae from the leaves frequently, or use an otocinclus catfish or flying fox (plecos can damage the leaves)

Here is a link that might be useful: petfish.net

May I presume you mean pieces of dry bamboo, and not the live plants sold as "Lucky Bamboo" referred to in the previous post? Those are indeed, members of the Dracena family and not true aquatics, but then, neither is bamboo, which is an upland grass.

But I would not use true dried bamboo as a tank decoration, because it will quickly rot and also, won't sink without weights and when it becomes waterlogged enough to do so, it's already on it's way to becoming a soggy mess.

If you like the look of it, while I am a live plant & real driftwood and rootwood fan, for the appearance of bamboo, ceramic or acrylic would be a safer alternative to genuine, organic material.

Real boo.. dried and dead would not affect your tank.. and would be fine.. could it possible rot at some point.. possibly.. but should be fine if it is properly already died out and dried out..