IANAL but I believe you can apply for a registered trademark on a name you've already been using in the marketplace for some time. Maybe someone knowledgeable can comment on the specifics?
Trademark application states the first use was on this date. Also note that the Specimen was also used to create the article about bitcoin http://www.pascazilaw.com/Articles.html
Another nice thing to note is that the letter is from Magellan Capital Advisors, LLC. Notice the signature at the bottom of that letter is signed by Celline M. Pascazi. I can only assume she is related to someone at the law firm, Pascazi Law Offices.
I really don't think this will get approved since it's very obvious that this is a trademark troll. be very interesting to see how this plays out.
First Use in Commerce Date: 2011-06-22
A hurdle; bitcoin was started in 2009: https://secure.wikimedia.org/wikipedia/en/wiki/Bitcoin