Brown the ground beef on the saute setting in your Instant Pot, adding in the diced pepper and onions as the ground beef cooks. Break up the ground beef with a spoon into small pieces and stir often. Add the minced garlic in the last minute or so of browning. Once browned turn off the Instant Pot and drain the grease carefully.
Stir in the kidney beans, jalapenos, diced tomatoes, V-8 and tomato juices, beer, chili powder, and sriracha. Lock the lid and use the "manual" setting to set the time for 30 minutes. My Instant Pot took 17 minutes to come to pressure, but this time will vary.
Once the timer goes off, release the pressure using the 10 minute Natural Release or Quick Release option.
Serve with any desired toppings (sour cream, shredded cheese) and tortilla chips for dipping, if desired.
Prep time listed includes the time it takes for the Instant Pot to come to pressure, and may vary.