If we are under the new covenant now, does the Old Testament even matter?
While it is true that we desire to be under the New Covenant – we cannot; nor should we want to, dismiss the Old Testament. The Old Testament is no less relevant to us today than it ever was. It is all part of God’s prophetic plan for mankind.
When Jesus took on flesh and walked the earth as a man, He instituted the new agreement – if we accept the terms of the covenant we will not be judged according the law of the former dispensation. “For Christ is the end of the law for righteousness to every one that believeth” (Romans 10:4).
Our part of the New Covenant is faith; God’s part is grace. “For by grace are ye saved through faith; and that not of yourselves: it is the gift of God: Not of works, lest any man should boast” (Ephesians 2:8-9).
Every word in the Bible is inspired by God. Men were instruments in the hand of God as He compiled Holy Scripture for our benefit. “Knowing this first, that no prophecy of the scripture is of any private interpretation. For the prophecy came not in old time by the will of man: but holy men of God spake as they were moved by the Holy Ghost” (2 Peter 1:20-21).
“All scripture is given by inspiration of God, and is profitable for doctrine, for reproof, for correction, for instruction in righteousness” (2 Timothy 3:16).
Whenever you want to dismiss the Old Testament remember this, you are referring to the Bible of the Savior Himself. It was absolutely indispensable to Him. And I submit that if it was indispensable to Him – it ought to be to us as well.
“For whatsoever things were written aforetime were written for our learning, that we through patience and comfort of the scriptures might have hope” (Romans 15:4). It is all part of the Canon of Scripture.
Indeed, Augustine said it well, "The Old is in the New revealed; the New is in the Old concealed."