Yes He did. But how if all are not saved?
This high-Calvinist model of the atonement defines the doctrine in commercial, or pecuniary terms. The word “pecuniary” is derived from the trade of cattle, and in regard to the atonement, refers to Jesus’ blood being just so efficacious so as to purchase all of the elect, but not one more person than that. Yet the Bible does not unambiguously define the atonement in such language.
So then in what way did He die for those who will end up in hell for eternity? We see that He died to propitiate the wrath of God, “not for our sins only, but also for the whole world” (1 John 2:2), and that in His death, He effectually purchased His entire elect people (Matt. 1:21; Eph. 5:25 et al).
We see that He “tasted death for everyone” (Heb. 2:9), but the atonement, we see, results directly in the salvation of the elect (Heb. 9:23-28).
So then does the effectual redemption of the elect preclude His having made a redemptive payment for all people? Scripture does not seem to draw the line of limitation here. The limiting of the atonement, rather, is in how it was designed to be applied – “to all who believe” (Rom. 1:16). If we pay careful attention to each passage that teaches us about what happened in the atonement, we nowhere see that the effectual redemption of the elect necessarily means a payment has not been made for the sins of all individuals at all times. The Calvinistic “L” in TULIP is a logical construct, but it fails to regard the full picture of redemption Christ accomplished.