Peter blessed God for having begotten believers to a living hope by Jesus' resurrection to obtain an incorruptible, undefiled, and unfading inheritance, currently reserved in heaven. 

God guards them in His power through faith for a salvation to be revealed on the final day. 

The Christians of Asia Minor rejoiced in this hope even though they were experiencing trials which would prove and purify their faith like gold refined by fire; their faith would praise, glorify, and honor Jesus at His return. 

The Christians of Asia Minor had not seen Jesus, but loved Him; they do not see Him, but rejoice in great joy and glory, and will receive salvation of their souls as the end of their faith.