Why is your reference missing verses 11-20?
God told me to heed what the holy scriptures say and not to distort them as some are in the habit of doing.
So put away all malice and all deceit and hypocrisy and envy and all slander. Like newborn infants, long for the pure spiritual milk, that by it you may grow up into salvation— if indeed you have tasted that the Lord is good. As you come to him, a living stone rejected by men but in the sight of God chosen and precious, you yourselves like living stones are being built up as a spiritual house, to be a holy priesthood, to offer spiritual sacrifices acceptable to God through Jesus Christ. For it stands in Scripture:
Behold, I am laying in Zion a stone, a cornerstone chosen and precious, and whoever believes in him will not be put to shame.
So the honour is for you who believe, but for those who do not believe,
The stone that the builders rejected has become the cornerstone, and A stone of stumbling, and a rock of offence.
They stumble because they disobey the word, as they were destined to do. But you are a chosen race, a royal priesthood, a holy nation, a people for his own possession, that you may proclaim the excellencies of him who called you out of darkness into his marvellous light. Once you were not a people, but now you are God’s people; once you had not received mercy, but now you have received mercy. Beloved, I urge you as sojourners and exiles to abstain from the passions of the flesh, which wage war against your soul. Keep your conduct among the gentiles honourable, so that when they speak against you as evildoers, they may see your good deeds and glorify God on the day of visitation. Be subject for the Lord’s sake to every human institution, whether it be to the emperor as supreme, or to governors as sent by him to punish those who do evil and to praise those who do good. For this is the will of God, that by doing good you should put to silence the ignorance of foolish people. Live as people who are free, not using your freedom as a cover-up for evil, but living as servants of God. Honour everyone. Love the brotherhood. Fear God. Honour the emperor. Servants, be subject to your masters with all respect, not only to the good and gentle but also to the unjust. For this is a gracious thing, when, mindful of God, one endures sorrows while suffering unjustly. For what credit is it if, when you sin and are beaten for it, you endure? But if when you do good and suffer for it you endure, this is a gracious thing in the sight of God. For to this you have been called, because Christ also suffered for you, leaving you an example, so that you might follow in his steps. He committed no sin, neither was deceit found in his mouth. When he was reviled, he did not revile in return; when he suffered, he did not threaten, but continued entrusting himself to him who judges justly. He himself bore our sins in his body on the tree, that we might die to sin and live to righteousness. By his wounds you have been healed. For you were straying like sheep, but have now returned to the Shepherd and Overseer of your souls. (I Peter 2:1-25)
Did God purchase and possess all humanity? Let God's word, through Peter, help you understand. (See the scripture provided above.)
The chapter doesn't say a word about God purchasing anyone. Do you read these passages before you post them? Or do you just randomly post verses and ignore the content of the passage?
Did you think your reference was to First Peter chapter one?
Peter, Apostle of Jesus Christ, to the newly-arrived elect of the dispersion in Pontus, Galatia, Cappadocia, Asia, and Bithynia, in accord with the foreknowledge of God the Father, in the sanctification of the Spirit, with the obedience and the sprinkling of the blood of Jesus Christ: May grace and peace be multiplied for you. Blessed be the God and Father of our Lord Jesus Christ, who according to his great mercy has regenerated us into a living hope, through the resurrection of Jesus Christ from the dead: unto an incorruptible and undefiled and unfading inheritance, which is reserved for you in heaven. By the power of God, you are guarded through faith for a salvation which is ready to be revealed in the end time. In this, you should exult, if now, for a brief time, it is necessary to be made sorrowful by various trials, so that the testing of your faith, which is much more precious than gold tested by fire, may be found in praise and glory and honor at the revelation of Jesus Christ. For though you have not seen him, you love him. In him also, though you do not see him, you now believe. And in believing, you shall exult with an inexpressible and glorious joy, returning with the goal of your faith, the salvation of souls. About this salvation, the prophets inquired and diligently searched, those who prophesied about the future grace in you, inquiring as to what type of condition was signified to them by the Spirit of Christ, when foretelling those sufferings that are in Christ, as well as the subsequent glories. To them, it was revealed that they were ministering, not for themselves, but for you those things which have now been announced to you through those who have preached the Gospel to you, through the Holy Spirit, who was sent down from heaven to the One upon whom the Angels desire to gaze. For this reason, gird the waist of your mind, be sober, and hope perfectly in the grace that is offered to you in the revelation of Jesus Christ. Be like sons of obedience, not conforming to the desires of your former ignorance, but in accord with him who has called you: the Holy One. And in every behaviour, you yourself must be holy, for it is written: “You shall be holy, for I am Holy.” And if you invoke as Father him who, without showing favouritism to persons, judges according to each one’s work, then act in fear during the time of your sojourning here. For you know that it was not with corruptible gold or silver that you were redeemed away from your useless behaviour in the traditions of your fathers, but it was with the precious blood of Christ, an immaculate and undefiled lamb, foreknown, certainly, before the foundation of the world, and made manifest in these latter times for your sake. Through him, you have been faithful to God, who raised him up from the dead and gave him glory, so that your faith and hope would be in God. So chastise your souls with the obedience of charity, in fraternal love, and love one another from a simple heart, attentively. For you have been born again, not from corruptible seed, but from what is incorruptible, from the Word of God, living and remaining for all eternity. For all flesh is like the grass and all its glory is like the flower of the grass. The grass withers and its flower falls away. But the Word of the Lord endures for eternity. And this is the Word that has been evangelised to you. (I Peter 1:1-25)
In that chapter you can find the use of the phrase "redeemed ... with the precious blood of Christ" but even in that chapter there's no "purchased" except perhaps in some poorly executed modern bible translation.
And the answer to your question is yes, Christ did redeem the whole world with his precious blood.
