What a person places his ultimate hope in reveals who or what that person worships. We attach our hope to those things that bring us the most satisfaction. Your hope is a good indicator of what you look to for security in life.
Peter reminds some struggling Christians that those who hope in Christ always have reason to rejoice. He wrote to believers who were experiencing the pain and discomfort of persecution for their faith in Christ. He writes to encourage them by reminding them of the living hope that they have because of the living Christ that they serve.