Can iTunes play music to a bluetooth device?

This certainly is possible.

You'll need to have your Mac connected to that Bluetooth device to start off with...

If connected properly, you should see an AirPlay icon within your iTunes window that should allow you to send the audio to your Bluetooth receiver. This is typically located next to or near the volume slider within iTunes.

If you don't see this, you could optionally go into the sound settings under system preferences and change your audio "output" selection to the Bluetooth device you wish to use.

Hope these suggestions help! I absolutely love playing music and audio wirelessly!