Put the lid on the Instant Pot and lock it. Press the Manual button and set the pressure cooker on High Pressure for 8 minutes.
Once the Instant Pot reaches pressure and the cook time is completed let the pressure release naturally for about 10 minutes. Then manually release any remaining pressure.
Remove the lid and either pour the soup into a blender to puree or use an immersion blender to puree it right in the pot.
Stir the cream into the soup. Serve in bowls garnished with the reserved bacon, pepper and chives.