This cup is God's new covenant. Jesus says this as he stands before them. Therefore we take these words as symbolic (see 1 Corinthians 11:26). Sealed with my blood. See Hebrews 9:15. MacKnight says: "Our Lord did not mean, that the new covenant was made at the time he shed his blood; it was made immediately after the fall, on account of the merits of his obedience to the death, which God then considered as accomplished, because it was certainly to be accomplished at the time determined." Compare Romans 5:18 and note.

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Old Testament