Is it possible to stream music TO an iPod touch via bluetooth?
If you are sending audio from a Mac or PC this is very doable using the Rogue Amoeba product AirFoil:


http://www.rogueamoeba.com/airfoil/speakers.php


It doesn't go over bluetooth, but WiFi similar to AirPlay - but it might be the closest you can get without jailbreaking iOS. I don't know of a specific jailbreak mod, but it's not something iOS/OS X does natively.

You might also be in the situation of these other users:


iPhone as &#39;headphones&#39; for computer
Connect iphone to multiple output devices to play music


For sending bluetooth audio to a home receiver, I'd spend the money for a dedicated device like Belkin's as it remembers up to 6 paired devices and uses wall power. It's quite tiny even though the image below is large.


http://www.amazon.com/Belkin-Stream-Bluetooth-Music-Receiver/dp/B00IL7BWGA/