I only looked into this because I swear we were singing a hymn called “In Christ Alone” 25 years before this was written - but, alas, I couldn’t find it.
As with all things Christian, this song is not without theological controversy. To wit:
Why ‘In Christ Alone’ did not make the cut – John Meunier
The second article is quite thorough.
The controversy relates mostly to the “wrath of God” being “satisfied.” This is only one of numerous theories of the Atonement, as I discovered when I did in-depth research years ago. Jesus specifically referred to it as a “ransom,” which is a different theory.
The various theories of the Atonement - there are at least five - would make an interesting thread because many Christians have no clue. (Voila: What was the Atonement all about? - Theology - Christian Forums at Crosswalk. You’re welcome.)
(If I appear to chime in on numerous threads, it’s because I’m up at 4 AM to tend the cats - or vice-versa - and my wife doesn’t arise until 6 because she’s responsible for tending them at 8 PM.)