Well, the USB AVR chips can operate in host mode, so in theory it would be possible. In practice, it might take a LOT of work to write the AVR drivers for the dongle, unless the protocol has been published or someone else has already figured out how to do it with that particular dongle.
I would have thought you’d be best to use a bluetooth module designed for embedded use, that has code already written you can use. Sparkfun has them starting from $35. There would be much cheaper options once you start talking about high volumes.
A $10 dongle won’t seem such good value if you spend weeks or months trying to get it working.
There are two algorithms, one faster but (relatively) low quality for headsets HSP, and a high quality for music, A2DP. They are lossy compression much like MP3. The bluez stack for linux implements both (at least in beta) and it is open source.
It is NOT a voltage level. It is a set of frequencies put through a compressor.