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Originally Posted by Doctor Mick
Keep the butter in water in the fridge and it'll keep its colour. An old "Bistro" trick 
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Good point about keeping it in water for short term storage. Butter (even in water) is notorious for absorbing odors from other foods in the refrigerator though. Cover it with a good moisture/vapor barrier plastic wrap.
For long term storage, butter can be stored in the freezer for almost a year with no ill effects on it's freshness, provided it is wrapped in moisture/vapor barrier plastic. Otherwise, butter will pick up food odors even while stored in the freezer.
Voyager