Also see the following page: https://en.m.wikipedia.org/wiki/Physical_and_logical_qubits/TellDunkin
Basically, there are two types of qubit. Physical qubits are individual quantum systems, which are superimposed 0 and 1. Logical qubits are composed of many physical qubits, and are used to perform useful work within a circuit. Physical qubits can't be used directly within a circuit due to decoherence, but by grouping them together in to a logical qubit we can overcome this.
It's worth noting that Google's 53 qubits refers to physical qubits, so not even 1 logical qubit. Microsoft seem to be suggesting they can build a logical qubit using only 100 physical qubits, instead of the several thousands that other approaches need. Either way, we are still likely decades away from this threatening bitcoin.
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