What does it mean when God says 'I am that I am'?

'I am that I am,' as revealed in Exodus 3:14, conveys profound truth about the nature of God. It signifies His eternality, implying that He is not defined by time or change; He simply is. This declaration underscores God's independence and self-sufficiency, meaning that He exists inherently, not contingent upon anything else. This concept is vital for understanding His covenant faithfulness, as God's character and promises remain consistent throughout history, reassuring believers that they can trust in His sovereign will and purpose in their lives.