Why is substitutionary atonement significant in Christian theology?

Substitutionary atonement, the doctrine that Christ died on behalf of sinners, is at the core of the gospel. 1 Peter 2:24 states that 'He himself bore our sins in his body on the tree,' indicating that Jesus' sacrifice serves as a substitute for our sins, satisfying divine justice. In Isaiah 53:5, we read that 'by his wounds we are healed,' emphasizing the vicarious nature of Christ's suffering and its implications for redemption. This doctrine assures believers that their sins are fully paid for, providing peace and assurance that nothing else is required for salvation. The acknowledgment of Christ as our substitute is what makes the gospel good news, enabling us to approach God with confidence.